Oil Creeps Up!

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Oil Creeps Up!

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. We’ll 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, we’re still getting ourselves organized in the new space. In 2012 and 2013 we acquired an additional 150,000 sq. ft., and we’re 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.

2016-09-23T13:06:32+00:00 September 23rd, 2016|Tags: , , |0 Comments

About the Author:

I am the president of a mid-size iron and steel castings company in Northeast Ohio. The foundry business is dirty, smoky, competitive, and not for the faint of heart. One must endure blistering heat, and go without seeing light for days, if not weeks or months at a time… Okay, that's a slight exaggeration. As a descendant of famed Siberian pathfinder Dmitri Zlatzutuov, I'm eager to carry on the family tradition of persevering no matter what obstacles lie ahead. Now that I'm done giving you the family history, I can tell you that I'm also an attorney and I volunteer a portion of my time to causes involving First Amendment litigation, as well as for Community Legal Services out of Akron, Ohio—for which I was recently recognized as ‘Volunteer Attorney of the Year.’ In addition to my normal day-to-day, I occasionally have works published in journals and magazines, though much less often lately, as running a company tends to fully occupy one's time.

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