Moonachie, NJ- LPS Industries, (www.lpsind.com), a vertically integrated flexible packaging manufacturer, stated through Paul Harencak, VP Business Development & Technical Services, that the current reshoring of manufacturing from Asia to North America brought about by the pandemic is a trend not just a fad.
Mr. Harencak said, “The current reshoring of manufacturing, especially in the industry of packaging manufacturing, has benefited North American companies, and we think this is going to continue both in the short and longer term.
Reshoring took off as the pandemic accelerated. The closure of whole cities in China disrupted the global supply chain forcing end-users to find new suppliers. That meant a geographical shift to places not yet affected by the virus. North American companies began looking for North American suppliers.
Mr. Harencak stated, “We believe that the experience of getting product made closer to home has been an eye-opener for many. Off-shoring began decades ago to take advantage of lower wages and more relaxed environmental and tax regulations. What few understood at the time was that these advantages were balanced against longer shipping times, a lower quality of product in many instances, and concerns about protecting intellectual property rights.
A recent report by the Economist Intelligence Unit states that foreign direct investment is going to increase in the US and Canada through 2025, and that North America’s share of global exports should remain constant at 14%.
Mr Harencak continues, “We have seen increased demand for our products from North American customers since 2019. Flexible packaging for foods, packaging for hazardous waste, packing materials for shipping, as well as envelopes and coated products for industrial applications have all seen heightened interest. We are confident that consumers in North America will come to realize that the benefits of quicker delivery times and better quality will continue to make reshoring sensible.”
About LPS Industries
LPS Industries LLC, a woman-owned family business, is a leading ISO 9001:2015 certified flexible packaging manufacturer and converter with a distinguished history of providing creative solutions for its customers for over 60 years. With cost-effective products in flexible packaging, hazardous material packaging, shipping envelopes and supplies, and industrial bags and envelopes, LPS Industries can meet the need of most any packaging requirement. LPS Industries is a diversified manufacturer and leader in the flexible packaging industry providing packaging solutions to many market segments such as medical, food, transportation, electronics and agriculture. For more information, visit our website at www.lpsind.com
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