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TV maker to hire 100 workers at Michigan plant
A small Minnesota electronics company aims to bring TV manufacturing back to the U.S., hiring 100 workers at a plant in Canton.
Element Electronics, which sells TVs made in China to big-box stores like Walmart and Target, has teamed up with a Michigan company, Lotus International, to produce low-priced flat-screen TVs that are 46 inches and larger.
The first large TVs could start rolling off an assembly line in March. The company plans to hire workers and set up a call center to handle customer questions.
Michael O'Shaughnessy, Element's president and owner, pledges that its Michigan-made TVs will not cost consumers any more than if the sets were produced in China.
"We are doing this to set an example," said O'Shaughnessy, who grew up in Ohio. "This is the right thing to do."
Sony closed its last U.S. TV plant in 2010. Vizio is American-owned but outsources its production outside the country.
Bringing back TV manufacturing is part of a growing business trend called reshoring. With soaring costs for Chinese labor and shipping, many companies are rethinking whether it still makes sense to make their products overseas.
TV maker to hire 100 workers at Canton plant | Detroit Free Press | freep.com
China No Match for Dutch as Philips Shavers Come Home
Jan. 19 (Bloomberg) -- Royal Philips Electronics NV workers in the Dutch town of Drachten who expected to be fired were astonished when the site manager said the company was bringing production of its top-priced electric shavers home from China.
Rob Karsmakers, the factory manager who returned from four years working for Philips in Asia, told the baffled crowd that the consumer-electronics company would boost investment in Drachten, where it employs 2,000 staff.
"A product engineer in Shanghai now is just as expensive as in Drachten," said Karsmakers, who has overseen the plant since 2009, in an interview. "But in China, the headcount turnover is high. That is not sustainable."
China No Match for Dutch Plants as Philips Shavers Come Home - Bloomberg
Dishman in Talks to Sell China Factory
BANGALORE — Dishman Pharmaceuticals & Chemicals is in advanced talks with prospective buyers for its Chinese factory and is expecting about $25 million from a possible sale that would help the Indian company cut debt.
"If we get the price we are seeking, we'll dispose it off and use the proceeds to reduce our debt to that extent," Chief Financial Officer V.V.S. Murthy said recently. He expects to close a deal by June.
Dishman started work on its China factory in the financial year ended March 31, 2007, to produce pharmaceutical intermediates and active pharmaceutical ingredients–raw materials used in making drugs–for supply to its U.S. and European clients. It has invested about $20 million on the factory at the Shanghai Chemical Industry Park.
The company was initially expected to start commercial production at the factory by September 2008 but hasn't been able to do so due to a lack of local regulatory clearances.
Dishman in Talks to Sell China Factory - Deal Journal India - WSJ
A small Minnesota electronics company aims to bring TV manufacturing back to the U.S., hiring 100 workers at a plant in Canton.
Element Electronics, which sells TVs made in China to big-box stores like Walmart and Target, has teamed up with a Michigan company, Lotus International, to produce low-priced flat-screen TVs that are 46 inches and larger.
The first large TVs could start rolling off an assembly line in March. The company plans to hire workers and set up a call center to handle customer questions.
Michael O'Shaughnessy, Element's president and owner, pledges that its Michigan-made TVs will not cost consumers any more than if the sets were produced in China.
"We are doing this to set an example," said O'Shaughnessy, who grew up in Ohio. "This is the right thing to do."
Sony closed its last U.S. TV plant in 2010. Vizio is American-owned but outsources its production outside the country.
Bringing back TV manufacturing is part of a growing business trend called reshoring. With soaring costs for Chinese labor and shipping, many companies are rethinking whether it still makes sense to make their products overseas.
TV maker to hire 100 workers at Canton plant | Detroit Free Press | freep.com
China No Match for Dutch as Philips Shavers Come Home
Jan. 19 (Bloomberg) -- Royal Philips Electronics NV workers in the Dutch town of Drachten who expected to be fired were astonished when the site manager said the company was bringing production of its top-priced electric shavers home from China.
Rob Karsmakers, the factory manager who returned from four years working for Philips in Asia, told the baffled crowd that the consumer-electronics company would boost investment in Drachten, where it employs 2,000 staff.
"A product engineer in Shanghai now is just as expensive as in Drachten," said Karsmakers, who has overseen the plant since 2009, in an interview. "But in China, the headcount turnover is high. That is not sustainable."
China No Match for Dutch Plants as Philips Shavers Come Home - Bloomberg
Dishman in Talks to Sell China Factory
BANGALORE — Dishman Pharmaceuticals & Chemicals is in advanced talks with prospective buyers for its Chinese factory and is expecting about $25 million from a possible sale that would help the Indian company cut debt.
"If we get the price we are seeking, we'll dispose it off and use the proceeds to reduce our debt to that extent," Chief Financial Officer V.V.S. Murthy said recently. He expects to close a deal by June.
Dishman started work on its China factory in the financial year ended March 31, 2007, to produce pharmaceutical intermediates and active pharmaceutical ingredients–raw materials used in making drugs–for supply to its U.S. and European clients. It has invested about $20 million on the factory at the Shanghai Chemical Industry Park.
The company was initially expected to start commercial production at the factory by September 2008 but hasn't been able to do so due to a lack of local regulatory clearances.
Dishman in Talks to Sell China Factory - Deal Journal India - WSJ