The North American Die Casting Association is suspending its corporate members’ 2009 dues assessment, a part of the association’s total dues structure. In a statement, NADCA reports it has unanimous support from its board of governors to implement a “relief initiative” for corporate members impacted by economic events.
Saying it is important for NADCA to support both the industry and its members “wherever we can,” Association president Daniel L. Twarog explained that the trade group has temporarily suspended corporate membership dues by 12%.
NADCA represents more than 3,100 individual and 300 corporate members in the U.S., Canada, and Mexico. Member companies include OEMs, suppliers, captive diecasters, and job shops. Corporate members’ dues (part of NADCA’s overall dues structure) are based on a company’s annual diecasting sales volume and assessment fees. These assessment fees are divided into marketing and research costs, and represent more than 10% of membership dues.
The statement indicates NADCA will supplement the loss in assessment revenues with funds from its general reserve. It said it will continue to represent the diecasting industry with minimal impact to its daily operations. Members will continue to receive NADCA’s bi-monthly magazine, discounted trade publications, research and statistical reports and educational programs, among other benefits.
“Without a doubt the U.S. economy is facing some extremely tough times, its worst in more than a generation. In all reality, this won’t ease up during the first half of 2009, and if it does, the impact won’t be felt until the second half of the year,” stated NADCA president Daniel L. Twarog.
Twarog said recent economic developments have had “a significant impact on the diecasting industry and NADCA is doing what it can to support its member base. It’s at the very least one step in the right direction.”