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November 13, 2012

MSCI Urges Strong Leadership and Bi-partisan Cooperation to Accelerate Growth, Encourage Innovation and Inspire Confidence

Contact:

Jonathan Kalkwarf, vice president, finance and administration, 847-485-3007

Ashley DeVecht, director of communication, 847-485-3011 or 616-260-2785

MSCI Urges Strong Leadership and Bi-partisan Cooperation to Accelerate Growth, Encourage Innovation and Inspire Confidence

Rolling Meadows, Ill., November 13, 2012 – As Congress returns to work, Metals Service Center Institute (MSCI) President and CEO M. Robert Weidner, III, expressed the need for Congress and the Obama administration to refocus their energy and efforts on issues critical to manufacturing and the metals industry.

Since August, MSCI held 11 manufacturing summits across the country, drawing over 3,000 members and their employees and customers to discuss issues important to the industry. “Over the last three months, our members and others within the manufacturing industry have made it clear: Their success is dependent upon political leadership and pro-manufacturing policies,” said Weidner. “Our elected leaders have a responsibility to deliver meaningful results for the American people and the U.S. metals industry. We have real challenges ahead and MSCI is eager to roll up its sleeves and immediately get to work with our elected leaders.”

Specifically, MSCI urges the president and Congress to work together to develop and pass a budget that incentivizes growth and corrects our debt and deficit balances. Additionally, members are seeking a commonsense regulatory framework that fosters job and economic growth and at the same time need a simpler, flatter and fairer tax system to have the confidence to invest and innovate.

On a global scale, members are dependent on our leaders to expand access to global markets and enforce trade agreements. In particular, MSCI strongly encourages the Obama administration to demand that China comply with all of its WTO obligations and allow its currency to trade freely on the global foreign exchange markets. For a stronger America and a growing economy, members also need a clear energy policy—one that produces steady, reliable and affordable energy from all domestic sources.

“Manufacturing could be the primary force of change in turning around the economy,” explained Weidner, citing a study commissioned by MSCI. The study revealed the metals industry has a total economic impact of more than $550 billion or over 3.5 percent of GDP. In addition, companies involved in the production, wholesaling and primary processing of metals provide more than 2.4 million jobs nationwide that pay over $55 billion in wages to families throughout the country and approximately $65 billion in local, state and federal taxes. “We are hopeful that the Obama administration and new Congress will work together to lead boldly and take decisive action,” he added. 

About MSCI

Founded in 1909, the Metals Service Center Institute, based in Rolling Meadows, Ill., has over 400 members operating from more than 1,500 locations in the United States, Canada, Mexico and throughout the world. Together MSCI members constitute the largest single group of metals purchasers in North America, amounting each year to more than 55 million tons of steel, aluminum, and other metals, with about 300,000 manufacturers and fabricators as customers. MSCI’s membership also includes almost all ferrous and non-ferrous industrial metals producers in North America. Service centers inventory, process and distribute metals to manufacturing intermediaries and original equipment manufacturers.

MSCI conducts eight national level conferences for members annually along with networking events that are held across the 30+ chapters and offer access to educational programs for all levels of employees from entry-level to executive. To date over $2.5 million in scholarships have been awarded through its chapters. For more information, visit www.MSCI.org. Like us on Facebook at Metals Service Center Institute, follow us on Twitter @MSCITweets, and connect with us on LinkedIn at Metals Service Center Institute.