Sharpie Pens Maker Plans To Reduce China Dependence Amid Tariff Tensions With US
Portfolio Pulse from Benzinga Neuro
Newell Brands (NASDAQ:NWL), the maker of Sharpie pens, is shifting some of its production out of China to reduce tariff uncertainties. The company will relocate its writing business manufacturing to Tennessee and move kitchen appliance manufacturing to Vietnam, Thailand, Indonesia, and other locations. This strategic move aims to reduce Newell's dependence on China, automate U.S. manufacturing, and save on time and fluctuating freight costs.
August 07, 2024 | 11:34 am
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Newell Brands is relocating some of its production out of China to mitigate tariff uncertainties and reduce dependence on Chinese manufacturing. The company is moving its writing business to Tennessee and kitchen appliance manufacturing to Vietnam, Thailand, and Indonesia.
The strategic move to reduce dependence on China and mitigate tariff uncertainties is likely to be viewed positively by investors. It shows proactive management and could lead to cost savings and more stable supply chains.
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