Rethinking The Global Supply Chain, Plus Reshoring
The massive disruptions of the global supply chain that occurred in 2020 during the pandemic have increased momentum for the reshoring of manufacturing jobs to the United States, primarily from China. BF Staff
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Rethinking The Global Supply Chain
The massive disruptions of the global supply chain that occurred in 2020 during the pandemic have increased momentum for the reshoring of manufacturing jobs to the United States, primarily from China.
April 15, 2021
By the BF Staff From the March/April 2021 Issue
Before the coronavirus pandemic emerged, it didn’t seem like anything could upend the relentless paradigm of globalization: a global market fed by goods manufactured at lower cost in developing nations, with supply chains spanning several continents and all of it moved around by world-class logistics at higher and higher volumes.
Operating income
Fourth quarter operating income was $29 million, up $1 million from the year-ago period. The increase was largely attributable to lower input costs and favorable price mix.
Full-year operating income was $102 million, an increase of $3 million from prior year. The increase was largely attributable to Pakistan pricing actions, strong EMEA specialty sales, and lower operating expenses in Europe. This increase was partially offset by the impacts of stay-at-home orders on Pakistan sales volume in the first half and negative Pakistan foreign currency impacts. Excluding foreign currency impacts, segment operating income was up 7 percent.
Dividends
In December 2020, the Company paid a quarterly dividend of $46 million ($0.64 per share). The Company paid $178 million of dividends in 2020.