- OEM furniture and retail goods manufacturer Powin Corp. (OTC BB: PWON), says because China is getting too expenseive, it is studying expansion of one of its manufacturing facilities in Mexico (it manufactures truck parts there for Daimler's Freightliner trucks) in Saltillo, the capital city of the Mexican state of Coahuila.
Powin owns 85 percent controlling interest in the manufacturing company in Saltillo. "This has proven to be an excellent investment and we are discussing the opportunities of expanding manufacturing here, partially because the price of manufacturing in China and Taiwan, where we contract with manufacturing facilities, is continuing to increase in cost as well as ever increasing cost of freight and the impact of the negative exchange rate on the U.S. dollar," said Joseph Lu, Founder, Chairman of the Board, CEO and President.
At another of its sites, Powin produces solid wood furniture for Maco lifestyles furniture, a line dedicated to providing heirloom quality furniture at an affordable price. Maco is part of a large multi national corporation which says it "provides time honored designs using the best woodworking techniques. Our furniture uses dovetail, mortise and tenon and dowell joinery to create solid furniture that will last generations." Maco is carried by Sears, Wal-Mart and at Amazon.com, among other outlets. The company also has lines of office casegoods.
With two plants in Tualatin, Oregon, eight in China and two in Taiwan, utilizing approximately 2,100 workers, Powin does $60 million in sales manufacturing for companies across the United States. Powin was founded in 1989 by Joseph Lu, a Chinese-American, who it says leveraged his family ties in China and his knowledge of the nuances of Chinese local laws and languages to manufacture goods for American distributors.
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