McGladrey: manufacturing faring okay.

• Author: Marshall, Jeffrey
• Position: CREDIT AVAILABILITY - Brief article

Sure, credit is tight, but to Tom Murphy, executive vice president of manufacturing and wholesale distribution for accounting and consulting firm RSM McGladrey, the signs from the manufacturing sector really aren't that dire these days.

Lenders have clamped down considerably in recent months, he says, but he views that more as a return to time-honored credit standards, as opposed to the almost anything-goes practices of a year ago. "If you have a good business plan and a good track record, you can get some decent funding," Murphy says. Private equity, also, remains interested in buying smaller manufacturing companies.

Some subsectors clearly remain troubled, he says, naming transportation equipment, trucking and building materials. "There's been a slowdown in some plastics, and printers are not as optimistic as they used to be," he adds.

On the other hand, food...