Capital spending for packaging machinery will take a hit this year, according to the fourth annual purchasing plan study by the Packaging Machinery Manufacturers Institute, though food companies are cited as one of the stronger buyer categories.
Food manufacturers are projected to increase spending 1 to 3 percent this year, or $20 million to $60 million over last year's $2 billion outlay, the PMMI-commissioned forecast concludes. That would offset most of the downturn in other categories, including beverage, where a 2 to 4 percent dip from last year's $875.5 million in spending is forecast. Double-digit increases occurred among beverage manufacturers the last few years, while food was expected to drop 1 to 3 percent in 2000.