Comment on China….and “re-sourcing” from Tim Smock-CEO
During March of this year, I along with my Seaway business partner (Paul Bernard) traveled to China to visit 5 injection molding and mold building companies. The primary purpose of the trip was a benchmarking exercise. What we came away with was somewhat surprising….the highly qualified company’s we visited stated they were busy and growing primarily with China based customers. Each stated their preference to do business with their China customers versus USA/European based customers as their China based customers proved to be easier to do business with and were more profitable than their offshore customers.
The takeaway from this experience was as China injection molding companies continue to face inflationary pressures similar to those in the USA, along with increased demand from preferred China customers coupled with a reluctance to accept and manage low volume offshore production business, companies like Seaway will continue to participate in an OEM migration back to the USA from offshore based suppliers.
With many years of experience assisting customers with the daunting task of moving low volume production molds to Seaway from off-shore as well as other domestic suppliers, we are well positioned to be a valuable “re-source”!