EU BUSINESS DEVELOPMENT TRIP | |
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The EACC Business Development group that is headed to Europe on June 8th enjoyed the kick-off meeting of all kick-off meetings at EACC Member Hans Philippo's Lisse Steakhuis in Covington.
Hans, who will be joining us on the trip, treated the team to a wine tasting dinner that - dare I say - blew everybody's socks off. From the wine to the extraordinary food to the company, it was a kick-off to remember.
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The EACC Greater Cincinnati's 2024 Annual Gala broke all records. In spite of weather and traffic concerns, close to 340 people came together at Drees Pavilion in Northern Kentucky to enjoy perfect weather, connection and camaraderie, all under the banner of France. | |
Salvagnini USA welcomed over 30 guests to their factory in Hamilton, OH, for the EACC's first Operations Showcase. On the occasion of their US location's 40th anniversary, attendees experienced a unique behind-the-scenes view of the Italian machinery manufacturer's products, culture, history and mission. It's not JUST about making machinery... | |
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UNITED GRINDING North America is headquartered in Miamisburg, OH.
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Doran Manufacturing, LLC., founded in 1953 in Cincinnati, Ohio, is a leading global provider of safety and maintenance monitoring technology for commercial vehicles to customers in more than 53 countries around the world.
Doran is a global leader in designing and providing innovative and world-class quality tire monitoring systems to fleets and OEMs of trucks, trailers, off-the-road vehicles (wheel loaders, haul trucks, mobile cranes) and farm/ag equipment. In addition to in-cab visibility to tire data and alerts, Doran’s 360™ TPMS also provide remote access to real-time pressure and temperature data, alert notifications and historical reporting options through integrations with telematics providers from around the globe. Doran’s tire monitoring systems have been proven to reduce tire repair and maintenance costs while also helping fleets to improve their sustainability efforts by maximizing tread life, protecting casings, minimizing catastrophic tire failures while helping to optimize fuel economy.
In addition, Doran recently introduced a trailer tracking and verification system that helps fleets to identify and validate that a tractor is connected to the proper trailer soon after connection.
Doran also manufactures and distributes exterior light monitors and Sleeping Child Check® monitors to enhance the safe operation of school buses and protect children, the most precious asset in the world.
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Shaping the Future of Manufacturing: Prioritizing Bright, Amenity-Rich Spaces to Attract and Retain Talent
by Dan Lessing, Client Leader, BHDP Architecture
In recent years, manufacturing has undergone a significant transformation, driven by...
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How Hiring Practices Differ Between the U.S. and Europe
by Julie George, Partner & Executive Search Consultant –Gilman Partners
For European companies establishing operations in the U.S., hiring the right leadership team on the ground is critical to jumpstarting success.
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CURRENCY UPDATE
The dollar is on a tear after the recent hotter than expected CPI print (.4% MOM vs. .3% exp and 3.5% YoY vs. 3.4% exp). This has resulted in the pushing back of rate cut expectations from June to September and December, and the dollar has followed the interest rate market’s lead, soaring across all currencies.
USDJPY is most notable as it has breached through that psychological 152.00 level, a level that has been mentioned by Japanese authorities. It sits at 152.70 at the time of writing, surpassing its Oct 2022 high of around 152.25. **Note that the Bank of Japan last intervened at that time, so intervention watch is very much in vogue at the moment.
The Euro is down 1%, touching 1.0746 for its biggest drop since July, while GBP is down a full big figure, sitting at 1.2580 at the time of writing. Contrary to USDJPY, the Euro and GBP have been in tight ranges since the middle of December, and after recent moves brings them both back near the bottom of those ranges, with the Euro’s most recent low seen in February at 1.0695 and GBP’s also seen in February at around 1.2525.
USDCNH also saw a pop to a high of 7.2600, while the commodity currencies, AUD and NZD also shed around 1 big figure, touching .6515 and .5990, respectively. A quick glance at the graphs of these currencies also show them trading near the bottom of the recent ranges.
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Currency Update courtesy of David Kay, Vice President | Middle Market Banking at Fifth Third Commercial Bank | |
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Wishing everyone all the very best, always!
Nicole
Executive Director
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