Roto Attends German American Business Outlook 2018
Roto North America President & CEO, Chris Dimou, attended the German American Business Outlook 2018 held in NYC. The GABO is the annual survey of German firms in the United States, which offers insight to the current state and future of expectations of German companies in the US. For the first time since the inception of the survey, 100% of surveyed German companies are expecting growth for their businesses in 2018.
92% surveyed said that attracting a skilled workforce is an important factor which needs to be addressed by the US administration, followed by openness of markets and digital infrastructure. German American Chamber of Commerce President & CEO, Dietmar Rieg, will meet with Chris Dimou in January to discuss this topic.
However, as companies struggle with an ever-increasing shortage of skilled labor they are expanding through mergers and acquisitions or new manufacturing capabilities. 11% surveyed said that they plan to expand their businesses in 2018 through M&A along with 83% conducting research & development in the US collaborate with partners to achieve their R&D goals. These important partners include universities, community colleges, startups, and large tech companies.
“Roto is working with local universities through internships to attract young, talented people to build a skilled workforce,” says Chris Dimou, President & CEO.
Current data analysis challenges include data security, lack of in-house know-how, and data protection with 59% of participants stating that they face these challenges. With the skills gap motivating companies to take initiative and grow their workforce, 61% revealed that they either participate in an apprenticeship program or are interested in joining a consortium-style apprenticeship program to train their staff.
About Roto North America
Roto North America is comprised of Roto Frank of America, Inc. in Chester, Connecticut and Roto Fasco Canada, Inc. in Mississauga, Ontario, Canada. Both locations manufacture window and door hardware, which offers solutions for North American and European applications. RFA and RFC are wholly owned subsidiaries of Roto Frank AG, a global leader in window and door hardware, with 17 production plants and more than 40 subsidiaries worldwide.
For more information please visit www.rotonorthamerica.com
