The vast effects of the global economic crisis cannot be ignored. The automobile and machine building industries have been particularly hard hit, which in turn is felt by high-tech foundries from around the world, for whom these two industries represent primary customers. In light of this development, Messe Düsseldorf has decided to cancel this year's NEWAST – International Trade Fair for Precision Castings. The subsequent edition will take place according to schedule at the same time as the GIFA, METEC and THERMPROCESS trade fairs.
"A trade fair is always a reflection of the market. A year ago nobody could have anticipated the magnitude that the global economic crisis would take on by now. It was a difficult decision for us to cancel NEWCAST this year. Nonetheless, we believe that we are acting responsibly and in the best interest of our customers with our decision," explains Joachim Schäfer, Managing Director of Messe Düsseldorf. The decision was made in close consultation with the participating umbrella organisations of NEWCAST. "For the good of the entire industry, we support Messe Düsseldorf's decision to cancel NEWCAST 2009. We hope that we will soon be able to look toward better economic times," stated Dr. Gotthard Wolf of the Bundesverband der Deutschen Gießerei-Industrie (Federal Association of the German Foundry Industry; BDG). Other renowned NEWCAST exhibitors also support the decision to bank on better times, so that NEWCAST can stay true to its traditional record of success.
Until a few months ago the foundry industry was still reporting high growth rates. As a result of the global economic crisis, several plants have now filed for bankruptcy. According to industry experts such as ifo, the German Institute for Economic Research (DIW) or Deutsche Bank Research, an improvement of the economic situation is currently not on the horizon.