Friday, June 5, 2020
The Empire Club of Canada Presents:
The Evolution of an Economic Engine: Assessing the State of Canadian Advanced Manufacturing
Dwindling cash flows, ongoing skills shortages and disruptions to supply chains. Productions lines shut down while others retooled to make new, vitally needed health and safety products. Orders cancelled while oil and gas prices plummet. Expectations of agility in the face of an unprecedented shock and an uncertain future. Welcome to the world of Canadian advanced manufacturing in the time of COVID-19.
There is no question companies across Canada have stepped up over the past few months. We have been inspired by the stories of their innovation as they create new technologies and scale up production of equipment and medical devices central to fighting the pandemic. We have also been reminded of the extent to which we rely on other countries for critical goods and supplies.
With provincial economic reopening plans slowly unfurled, many are looking to the second half of 2020 as key period for the sector’s recovery. But what that recovery looks like is unclear. Will governments continue to bring forward new policies and supports designed to increase in-country production of goods that companies long ago stopped making here in Canada? Is long-term reinvention really an option for many companies? Will their corporate clients and consumers have the funds to start buying again? And, how will physical distancing rules in plants impact efforts to restore productivity?
Peter Hatges, Partner, National Sector Leader, Automotive, KPMG in Canada, & Managing Director KPMG Corporate Finance Inc.
Jayson Myers, Chief Executive Officer, Next Generation Manufacturing Canada
Diane Reko, President & Chief Executive Officer, Reko International Group Inc.
Flavio Volpe, President, Automotive Parts Manufacturers’ Association (APMA)
*The content presented is free of charge but please note that the Empire Club of Canada retains copyright. Neither the speeches themselves nor any part of their content may be used for any purpose other than personal interest or research without the explicit permission of the Empire Club of Canada.*
*Views and Opinions Expressed Disclaimer: The views and opinions expressed by the speakers or panelists are those of the speakers or panelists and do not necessarily reflect or represent the official views and opinions, policy or position held by The Empire Club of Canada.*