Fab-Line Machinery, which has facilities in St. Charles, Illinois and Nashville, Tennessee, imports metal fabrication machinery from Turkey under GSP. The products, including hydraulic press breaks, hydraulic shears, and plasma cutting systems, are used by American manufacturers for domestic production.
Based on its response to our new GSP renewal survey, Fab-Line paid about $350,000 in additional taxes while GSP was expired. As President Patrick Canning reported a year ago, the new taxes forced the company to lay off one employee put two new hires on hold. The planned sales and service expansion remained on hold due to lack of funds. Until now.
GSP renewal was the catalyst Fab-Line needed: it has already hired a new service manager and a new regional manager. And it has not even received all of its refunds yet. GSP renewal also means improved margins on all of Fab-Line’s sales that could be used to fund future growth.
These are the types of stories that importers must share to start building the case for GSP renewal in 2017. If you haven’t done so already, please answer our new GSP renewal survey here.
You can view our other post-renewal profiles: