Most plastics firms expect to benefit from reshoring
BOSTON (April 20, 11:55 a.m. ET) -- More than a third of large U.S.-based manufacturers plan to bring production back to the United States from China, according to a survey from the Boston Consulting Group. Executives at 106 companies with sales greater than $1 billion responded to BCG’s “Made in America, Again” survey. Of those, 37 percent said they plan to reshore manufacturing or are “actively considering” reshoring. Plastics and rubber companies were the most favorable to reshoring – 67 percent of rubber and plastics molding companies surveyed said yes to the question: “Given the fact that China's wage costs are expected to grow 15-20 percent per year, do you expect your company will move manufacturing to the United States?” Companies with annual sales of more than $1 billion were also more favorable to reshoring, with 48 percent responding yes. Labor costs, product quality, ease of doing business and proximity to customers were the most common reasons for c...