2023 presented a new set of challenges: a growing market demand combined with the COVID-19 hangover. We are starting to see a return to normal conditions.
I remain optimistic about 2024 and see an opportunity for growth.
Canada is fighting the inflationary effects of carbon tax, which affects all aspects of business, including transportation, logistics, operational overhead and cost of living. Couple this with interest rates, and we are faced with rough waters to navigate.
The resource sector will continue to positively drive out the economy. We need to elect and support a government that values this sector and helps to promote its growth.
We always believe in investing in capital equipment that supports the manufacturing process by promoting efficiency. Luff opened a new plant in 2023 to vertically integrate the pouring of polyurethane wear components. This allows for reduced lead times and a reduction in costs.
Matthew Fasoli is CEO of the commercial division at Luff Industries.
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