Regarding Coronavirus and the impact to PAC:
To All PAC Dealers, Distributors and Customers ‐
In New York State, coronavirus cases are easing. Likewise, governments are relaxing travel and business restrictions, too. We hope for a return to normal life in 2021. For manufacturers, however, there are indications of difficult times ahead.
The most notable issue at hand is the labor market. Even as illnesses drop and vaccinations surge, our domestic suppliers are beginning to see labor shortages. This is not only affecting our suppliers. This is also affecting all industries across the nation. Juxtaposed to a sharp rebound in retail and manufacturing, the nation’s ports are backing up with goods and materials. This situation means we can expect raw materials with longer times. We have already adjusted our expectations with our suppliers. PAC continues to monitor lead times & quality of our raw materials.
Another issue that will affect all industries in the near term is cost. Rising prices are expected as manufacturers face elevated costs such as: employee retention; hiring for a rebounding economy; rising raw material costs; rising energy costs; higher proposed taxes on corporations and business owners, and more.
In summary, currently there are no material impacts. Our suppliers are communicating labor shortages and higher prices on commodities, resins and packing material. The positive news, however, is that PAC will not be raising prices for the remainder of 2021!
Thank you for your support of PAC products! We continue to support first responders and our partners. We will come out of this stronger than before!
VP, Performance Advantage Co.