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“Long-term, we will probably shift everything.”. The scramble is driven by the risk of more, and higher, U.S. tariffs on China, and fears that nearby emerging economies can only accommodate new businesses on a “first come, first served” basis. Vietnam and Thailand are emerging as preferred destinations, but they still face capacity constraints ranging from red-tape to skilled labor and limited infrastructure best cufflinks brands uk sale. Reuters interviews with more than a dozen company executives, trade lawyers and lobby groups in various industries revealed a frenzy of activity across Asia in recent months: executives are requesting product samples, touring industrial parks, hiring lawyers and meeting with officials..
In June, Hong Kong-listed furniture maker Man Wah Holdings (1999.HK) bought a factory in Vietnam for $68 million and said earlier this month it plans to almost triple its capacity to 373,000 square meters by the end of 2019 best cufflinks brands uk sale. “The acquisition is to mitigate the risks posed by tariffs,” Man Wah said in a statement. Vietnam-based industrial real estate developer BW Industrial says inquiries have surged since October, and all its factories are now leased out. “The manufacturers are from all over the world but they all have production plants in China and need to start production ASAP,” Chris Truong, a sales manager at BW Industrial told Reuters..
In Thailand, SVI Pcl (SVI.BK), which provides electronics and manufacturing solutions, said it has just selected four new deals worth about $100 million with existing customers who have operations in China. “The trade war is good for us,” CEO Pongsak Lothongkam said. “We have been approached by so many companies that we have to prioritize.” best cufflinks brands uk sale. KCE Electronics (KCE.BK), Southeast Asia’s biggest maker of printed circuit boards (PCBs), has been contacted by U.S. companies who want to seek a new supplier to replace one in China, CEO Pitharn Ongkosit told Reuters..
“It’s a good opportunity. Many customers have contacted us to ask about our products and prices. But there are no sales yet as it will take time,” he said. Stars Microelectronics Pcl (SMT.BK), another Thai electronics manufacturing services provider, is also getting new business best cufflinks brands uk sale. “Two (or) three companies will start moving their production base (out of China) to us soon,” CEO Peerapol Wilaiwongstien said. Cambodia is also attracting interest, with Parsippany, NJ-based bicycle maker Kent International Inc shifting Chinese production to the Southeast Asian country..
“We have a big business in the United States,” Arnold Kamler, the company’s majority owner and chief executive told Reuters. “There is no choice but to as rapidly as possible look to move production away from China.”. The re-sourcing and relocation efforts mark an acceleration of an already established trend as China’s economy shifts towards services, consumption and high-tech production best cufflinks brands uk sale. “We are on the cusp of the biggest sourcing disruption that we have seen in a generation,” said Stephen Lamar, executive vice-president of the American Apparel&Footwear Association, whose more than 1,000 members contribute over $400 billion annually to U.S. retail sales..