Hey everyone, here are our Oct 2022 Production Updates.
For all news and updates, please see our Blog.
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Canadian Thanksgiving is coming up this month. Our offices will be closed Oct 7-10th.
LongMill MK2 and Extension Kit Orders
Production continues to move smoothly for all LongMill and Extension Kit orders. Most machines are shipping out within 1-2 weeks, and oftentimes sooner.
We are expecting to run out of the 1030mm lead screws that are used in various quantities between all sizes of the LongMill around the middle of October.
We have another partial batch expected to arrive at the end of the month, which means that shipping may be paused around this time. We will update our Order Status page with updated information if there is a shipping delay.
We expect lead times for machine orders to be around 1-2 weeks for the next few weeks before we update our lead times when we run out of lead screws.
A small piece of news to share, we have now switched completely to custom manufacturing v-wheels. This means more consistency, quality, and accuracy for the wheels in general, which have been historically a tricky point for us. The quality for the first 30,000 looks to be excellent so far.
LaserBeam Orders
We still have ready-to-go stock on LaserBeams. Most are getting shipped out within a few days.
Ikenna has been doing livestreams for working with the LaserBeam. If you haven’t checked it out yet, make sure visit our Youtube channel!
USD to CAD Exchange Rate
At the time of writing, the exchange rate for USD to CAD is 1 USD = 1.36 CAD. Because our base currency is in Canadian, this means that the exchange rate is heavily in favor of the Americans. That means that while the price for our products is basically the same for Canadians, our neighbors down South can purchase from us at a pretty significant discount.
Based on the reports that I’ve been receiving from RBC (Royal Bank of Canada), their projections are expected to see the USD to CAD conversion continue to be in favor of the USD for some time.
Because our base prices are all in CAD, this means that the margins for each machine decrease as the exchange rate changes in favor of the USD. Thankfully, because most of the material and production costs come in the local area, we are not as impacted as our competitors that have a higher percentage of materials coming from the US and overseas or US competitors selling into Canada. Additionally, much of the purchasing for Batch 7 was done when the exchange rate was around 1 USD = 1.26 CAD, a more favorable rate.
As the continuing economic turmoil continues, it will be interesting to see how us as a business will move forward.
The silver lining to this is that the small discount that our southern neighbors will be getting may stimulate more economic business in Canada.