You've read a great deal about restoring jobs or companies bringing their manufacturing operations back to America. We welcome them back with open arms and a big smile. With the outbreak of COVID-19, many companies have struggled with their supply chains. We don't have to juggle our supply chain because we don't worry about bringing in parts from international sources.
We strongly believe that it is imperative to keep America working. How strongly do we believe that?
It is the reason why we never left. We use high-quality American-made steel. When we outsource a process, it is outsourced locally. Everything we have done is within driving distance.
When tempted by the advantages of off-shoring jobs, all we had to do is walk out onto the factory floor and watch our people work. We saw the smiles. We saw how much they love making your tools.
Sure you can get the labor for less, but what do you get for that? What kind of products will they produce? More importantly, what kinds of controls can you have on a factory that is half a world away from you? What kind of connection can you have with the people who do that work? How can those people understand the value and importance of producing consistently high-quality tools?
We also looked at our beliefs. We firmly believe in the people who come to work every day and make the tools you trust. Our management team spends a lot of time out on the shop floor talking with the team. We ask what must be done to make improvements or reduce bottlenecks. We also spend time thanking them for their efforts.
We looked at our values and how we see long-term relationships. We've had some customers for nearly 90 years. We've had business partners for almost as long.
When you look at how it is all interconnected, it truly is who we are.
This business isn't all about money. The P&L does not trump belief in our people.
We've always been like this.
Back in the 1970s when we had a thriving OEM business and our customers asked us to make the tools cheaper so they could compete on price with lower quality products sourced offshore. One by one we helped them transition to other suppliers. Our focus is quality.
We would rather walk away from business than make an inferior tool. So, we walked away. We believe that there will always be a market for the highest quality tools. As long as that market exists, we will be here to serve that market.
We welcome those companies who are bringing jobs back to America. We think this is the place to be. We are glad to still be here after more than ninety years.
The next ninety years should prove to be even more interesting.