Despite tariffs being imposed, manufacturers continue moving manufacturing to Mexico.
CHICAGO -- A storage safe manufacturer is closing two Chicago-area factories and moving operations to Mexico to counteract the effects of metal tariffs imposed by President Donald Trump's administration.
The Chicago Tribune reports Stack-On Products will lay off about 150 people at its Wauconda and McHenry plants when they close Oct. 12.
Human resources director Al Fletcher said Tuesday the decision to relocate operations to Juarez, Mexico, was made about two months ago. That's when Trump announced tariffs on numerous goods and materials from China as well as other countries.
Stack-On makes products ranging from tool boxes to gun vaults.
Fletcher says the company has a plant in China and another in Mexico, and its only U.S. factories were the two in the Chicago area.
You might also be interested in:
Business is changing… and like all other businesses, food and agriculture are experiencing an important paradigm shift.
Technology and digitalization are demanding leadership transformation. Several broadly applicable recommendations to guide forward-thinking organizations in the era of omnipresent disruption emerged during IRC Global Executive Search Partners’ C-Suite Roundtable Discussions held in Singapore, Amsterdam, and Miami in early 2018.