Business
Jewett-Cameron Adds Three New Supply Partners for its Products
New suppliers added as part of a multi-year strategic plan to expand and diversify the Company’s product sourcing and maintain competitiveness NORTH PLAINS,
About this update from Jewett-cameron Trading Company
[{"type":"text","content":"New suppliers added as part of a multi-year strategic plan to expand and diversify the Company’s product sourcing and maintain competitiveness\nNORTH PLAINS, Ore., Sept. 17, 2024 (GLOBE NEWSWIRE) -- Jewett-Cameron Trading Company Ltd. (“Jewett-Cameron”) (Nasdaq: JCTCF), a company committed to innovative products that enrich outdoor spaces, today announced it has completed a significant step forward in its strategic plan to expand and diversify the Company’s supply sourcing from three new supply partners. Historically, Jewett-Cameron had a significant portion of their products supplied by a single manufacturer in China. With the implementation of the new multi-source, multi-country, strategic sourcing plan, the Company is no longer tied to one specific supply source for any single product or component. The Company now has highly diversified supply sources from manufacturers located in Canada, Bangladesh, Vietnam, Malaysia, Taiwan, and China. The new supply agreements cover Jewett-Cameron’s fence products, dog containment products, as well as MyEcoWorld® products. “When I took over as CEO, we did an expansive review of each of our product lines and recognized the need to expand our supply relationships to ensure we were not dependent on any one supplier or country where we could be exposed to import tariffs and other risks associated with a single source of supply. Over the last 18 months, we have embarked on an extensive worldwide search to find supply partnerships that could meet the specifications our customers demand and at pricing that allowed us to remain competitive in the market. We entered into three new agreements that cover all current product lines and deliveries are already enroute to our Oregon-based distribution center and directly to customers,” commented Chad Summers, CEO of Jewett-Cameron. “Due to the implementation of tariffs placed on various steel products coming into the U.S. from China, we have been subject to higher cost of goods on a number of our products over the past couple of years,” Summers added. “We expect our new sourcing strategy to help us to maintain competitive pricing and protect our margins going forward.” “We continue to honor Jewett-Cameron’s roots of developing high-quality, innovative products that enrich outdoor spaces while driving efficiencies across our operations. I am pleased with t...