WACO, Texas, April 20, 2018 /PRNewswire/ -- Over the past
year, steel prices have continued to climb in the United States, and because of a recent
proposal to increase tariffs on steel and aluminum, they appear
poised to climb higher, to levels that have not been seen in more
than a decade. In response to the potential tariff hikes, several
manufacturers in the United
States, employers of US workers, are facing a challenging
environment in which material costs are rising. Some of these
manufacturers are using surcharges, fees and price increases to
maintain their margins. At Versalift, there is no plan to do
that.
The tariffs imposed are:
- Products of iron or steel provided for in the tariff headings
or subheadings enumerated in Note 16 to this subchapter,
except products of Canada, of
Mexico, of Australia, of Argentina, of South
Korea, of Brazil, or of the
member countries of the European Union or any exclusions that may
be determined and announced by the Department of Commerce –
25%
- Products of aluminum provided for in the tariff headings or
subheadings enumerated in Note 19 to this subchapter, except
products of Canada, of
Mexico, of Australia, of Argentina, of South
Korea, of Brazil, or of the
member countries of the European Union or any exclusions that may
be determined and announced by the Department of Commerce –
10%
With 30 years of experience in the American Automotive industry,
Versalift CEO Curt Howell believes
that the company must look inward. By continually improving
processes and eliminating waste, Howell sees an opportunity to
profitably support Versalift customers without raising its prices.
With a company culture that is built around transparency and
accountability, Versalift is working toward four organizational
goals:
- Perfect safety record
- Increased manufacturing quality
- On-time order delivery
- Decreased production cost
Versalift continues to work toward greater organizational
efficiencies, and to pass the savings on to its
customers.
As the import and export of steel is crucial to it's business
model, Versalift is monitoring the current tariff situation, and is
also paying attention to existing trade agreements that may impact
the company and its customers. Because utility vehicle acquisition
costs are instrumental to the profitability and sustainability of
Versalift customers, the company is not ready to commit to charging
higher prices for its products. With that said, if at a future date
market conditions demand price increases, Versalift sales managers
and other company representatives will notify their customers in
short order.
As a US-based global manufacturer of utility equipment,
Versalift supports fair trade practices, and therefore sees the
imposition of any new tariffs as a challenge to the global market.
So far, the company is not willing to pass any increased costs on
to its customers. Versalift is committed to doing everything it can
to maintain its excellent value proposition, and to continue
offering the safest, most reliable and highest quality bucket
trucks, cable placers and digger derricks available on the
market.
About Versalift - Versalift is a leading manufacturer of
bucket trucks, digger derricks, aerial lifts and other specialty
equipment for power generation, transmission and distribution,
investor-owned utility, telecommunications, light and sign, and
tree care industries. Working with co-ops, municipalities,
government agencies and corporations through its global network of
facilities and family of dealers, the company employs nearly 800
associates worldwide.
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SOURCE Versalift