Well folks, we’re working through the downturn in oil prices just like everyone else seems to be in the steel foundry industry these days. Oil just settled at a 2015 high of $60.93/barrel, which is definitely positive movement but still nothing to write home about. Weâll have to see if any of the curtailments in exploration actually reduce all the oversupply and put some more upward pressure on those prices.
On the sand foundry side, weâre still getting ourselves organized in the new space. In 2012 and 2013 we acquired an additional 150,000 sq. ft., and weâre still getting moved into it and finding ways to use the space effectively. Just like moving into a new house, when you move into new manufacturing space, things tend to end up in places you didn’t plan for them to go, so we’re putting together a bit of a housekeeping and organization effort.