NJ Company Bringing Manufacturing Back From Overseas
By Phil Gregory, WBGO News
Mansfield Township. September 25, 2012
Outsourcing some manufacturing overseas for cheaper labor is nothing new. Now a New Jersey lighting products company is taking a different approach and is bringing all of its manufacturing back home.
Mansfield Township based Princeton Tec makes high tech headlamps and hand held flashlights.
Vice President David Cozzone says outsourcing some of its manufacturing to China didn’t work out.
“You’ve got to take a hard look at your outflow of capital. That was the biggest thing. You’re putting a lot of money out up front and you’re waiting a long time for the return. When you manufacture everything here you’re seeing a return almost instantly.”
Cozzone says having all of its operations in New Jersey has reduced freight costs, improved the quality of products, and gets them on the market quicker.
"We’ve decreased the cost of buying things overseas by almost 30 percent by making it here.”
By reducing its overseas manufacturing, Princeton Tec has doubled its workforce in the Garden State.
Federal Labor Secretary Hilda Solis toured the plant and says it’s something more companies can do to boost employment and make U-S manufacturing more competitive.
“Now with costs, timeliness, and the fact that we can create products, raw materials, to create the kinds of things we need here is going to make this business more competitive, and they’re going to be able to stay competitive and hire more people and produce more products.”
© 2012 WBGO News
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