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AlwaysFree: Costly Alternatives Faced By US Manufacturers On Virus Outbreak

Author: SSESSMENTS

US-based suppliers to industrial giants such as Deere & Co, Caterpillar Inc, and Komatsu Ltd are facing surging costs to avoid disruption in production as a result of the Coronavirus outbreak in China. 


Due to the outbreak, exports from the global manufacturing hub slowed. From tubes to metal pieces, the surge in prices could further dent the earnings of machinery makers. They are already struggling with a downturn in the US industrial economy.


After imposing severe travel restrictions to contain the virus, China is struggling to get its economy back on track.


For tooling and fixtures used to shape metal that previously imported, Morton Industries in Illinois is trying to find a domestic source. However, prices jumped as much as 30 percent on a rush to secure the supplies that previously flowed from China.


To ensure customers supplied, tying up sources outside China and booking air freight to send the available parts and components from China are among measures taken by suppliers. 


 


Tags: AlwaysFree,EN ALWAYSFREE,Economy,English,United States US,manufacturers,virus

Published on February 21, 2020 11:30 PM (GMT+8)
Last Updated on February 21, 2020 11:30 PM (GMT+8)