Skip to playerSkip to main content
Benzinga
  • 4 months ago
Newell Brands revitalized U.S. manufacturing with its Sharpie plant in Maryville, Tennessee, producing over 500 million markers a year. CEO Chris Peterson’s $2 billion overhaul boosted automation, tripled output, and raised wages by 50% without raising prices. Analysts say it proves domestic production can compete globally, though few firms can replicate it.

Category

🗞
News
Transcript
00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Newell Brands has revived American manufacturing with its Sharpie plant in Maryville, Tennessee,
00:07according to the Wall Street Journal.
00:09Tennessee factory produces over half a billion six-part markers annually,
00:13reporting only the felt tip from Japan.
00:15CEO Chris Peterson launched the initiative in 2018 when he was CFO,
00:19investing nearly $2 billion to overall production, centralized supply chains,
00:23and retrade workers rather than lay them off.
00:26The result was automation and tripled production speed,
00:28improved quality, and lifted wages by 50%, while keeping Sharpie prices steady.
00:34And I would say Newell's success shows domestic manufacturing can compete globally,
00:38but few rivals can match its resources.
00:40For all things money, visit Benzinga.com.
Comments