NADCA, The North American <link _top>Die Casting Association, has received unanimous support from its Board of Governors to implement its own relief initiative for its corporate member base in an industry directly impacted by the stream of economic events.
"Without a doubt the U.S. economy is facing some extremely tough times, its worst in more than a generation. In all reality, this won't ease up during the first half of 2009, and if it does, the impact won't be felt until the second half of the year," said Daniel L. Twarog, President of NADCA.
As the industry's trade association, NADCA represents a range of companies directly and indirectly involved in the <link _top>die casting industry including OEMs, suppliers, captive die casters and job shops. NADCA's immediate plan to help its corporate members is to suspend each corporate members dues assessment that make up part of overall due structure. Member dues are based on a company's annual sales volume as they relate directly to the <link _top>die casting industry and assessment fees. These assessment fees are broken down into two categories for marketing and research, and represent more than ten per cent of membership dues.
"It's important for the North American <link _top>Die Casting Association to support both the industry and its member base wherever we can," continues Mr. Twarog. "To that end, we have temporarily suspended corporate membership dues across the board by 12%. We represent more than 3,000 individuals and 300 companies facing some real challenges. So it's the right thing to do -- right now."
NADCA will continue to represent the <link _top>die casting industry with minimal impact to its daily operations by supplementing the loss in assessment revenues with funds from its general reserve. NADCA will also continue its efforts in congress and legislative matters, as well as provide its member base with bi-monthly magazines, discounted trade publications, research and statistical reports and educational programs, among other benefits. Mr. Twarog concludes, "The latest economic developments have had a significant impact on the <link _top>die casting industry and NADCA is doing what it can to support its member base. It's at the very least one step in the right direction."
