One of America’s oldest forms of industry may be a great predictor for our shaky economy. Bremen Castings Inc., a family-owned foundry and machine shop, has been melting metal for over four generations. Bremen Castings works with many well-known, large companies that cater to the agriculture, heavy truck, lawn and garden, oil and gas industries. Bremen Castings is making 15% more materials for some of their customers than they were a few years ago, which is a strong sign that our economy is going in the right direction.
President JB Brown notes, “Foundries are a great gauge on how our economy is doing. Since so many companies rely on materials from family foundries and machine shops like ours, we can tell how the market is doing based upon the flux of orders that we receive. Although we were hit as hard as some other industries, I can definitely tell that our economy has been strengthening and companies are becoming more and more comfortable with spending more.” In fact, Bremen Castings purchased 8,411 tons of steel scrap last year which was used to produce gray and ductile iron parts for various companies and industries throughout the world and Brown expects the number to grow in 2012.