Extrusion International 5-2023-USA

34 Extrusion International 5/2023 34 INDUSTRY NEWS Analysis Released: Balancing Goods vs. Services Consumption The Plastics Industry Association (PLASTICS) has released an official analysis addressing the goods and services consumption gap, authored by PLASTICS Chief Economist, Dr. Perc Pineda. Dr. Pineda writes, “The improved consumer sentiment, reflected in the University of Michigan's Index of Consumer Sentiment, having registered 72.6 in July compared to 51.5 in the same month the prior year, can be attributed to re - duced inflationary pressures and a robust labor market. The sus- tained rise in Personal Consumption Expenditures (PCE) directed towards services can be tied to consumers' increased engagement with the ser- vices sector of the economy, while their emphasis on the goods sector seems to have diminished. This shift in consumer preferences contribut- ed to the downturn observed in the manufacturing sector. The full analysis on the PLASTICS blog page: www.plasticsindustry.org/blog/ economys-mixed-outlook-balancing- goods-vs-services-consumption/ Dr. Perc Pineda Leadership Change in America and China Announced MAAG Group announced the ap- pointment of Paul Merich, former Vice President MAAG APAC, as in - coming VP/GMforMAAGAmericas. Ueli Thuerig, President of MAAG Group: “Paul has played a key role in further development of MAAG China. With Paul we found the per- fect match for our American busi- ness.” Paul Merich commented: “I am grateful for the opportu- nity and excited to embark on this journey with the MAAG America team.” Aaron Kong, GM MAAG China, now succeeds Paul Merich. “We are happy to have Aaron accepting this position,” says Ueli Thuerig. “He started at MAAG Group one year ago as Sales Director and brings a wealth of experience with him hav- ing worked previously at renowned market leaders in the plastics ma- chinery industry.” The MAAG Group is further ex- panding its presence in China creat- ing the prerequisites for continued growth in the People's Republic. Particular focus is being placed on creating incremental production capacity and on the introduction of new products specifically for the Chinese market. The internationally operating MAAG Group, headquartered in Oberglatt, Switzerland, has been stepping up its localization strategy in China since 2022 and currently has 103 employees. One recent ex- ample: The assembly shop at the site in Jiading, a district of Shanghai, has recently doubled in size. MAAG Group www.maag.com Paul Merich, VP/GM for MAAG Americas Aaron Kong, GM for MAAG China