Five U.S. and Canadian trade groups, made up of tool, die and mold makers that primarily service the auto industry, have teamed up to form the North American Automotive Tooling Coalition.
The organization’s goal is to lobby government officials to ensure that automotive suppliers be paid for parts and components they've already provided but haven't yet collected payment on due.
The U.S. members are the National Tooling and Machining Association, the American Mould Builders Association, the Precision Metalforming Association and an independent group of tool, die and mould companies, while the Canadian member is the Canadian Tooling and Machining Association.
Tool and die makers often have to wait six months to two years before money flows down to them. The NAATC hopes to ensure that members are paid more quickly in the future and that car makers and Tier 1 suppliers qualifying for government loans are forced to pay outstanding bills to tool and die makers.
“We're not asking for a loan,” said Leslie Payne, executive director of the Canadian Tooling and Machining Association. “We're asking to be paid for a product that's already been made and shipped.”