Company detailsCompany name: Vimec SrlCompany country: ItalySector: C - ManufacturingSector detail: C28 - Manufacture of machinery and equipment n.e.c.Sub-sectors: C28.22 - Manufacture of lifting and handling equipment Reshoring detailsReshoring announcement date: 11/03/2017Starting implementation date: March, 2017Reshored to: ItalyLocation of affected unit(s): LuzzaraLocation code: ITH53Reshored business function: ProductionReshoring governance mode: In house (in own facilities)Estimated job gains: 10Reasons for reshoring: "Made in" effectChange in total costs of sourcingDelivery timeExchange rate riskCase narrative: Vimec is an Italian company created in the '80s that designs and builds stair lifts and elevators to overcoming architectural barriers and improving accessibility. During the '90s the company offshored the production in its own plant in China. However, production costs and delivery time had risen during the years, and the exchange rate with dollar become unfavorable. For these, reasons the company decided to move back all the production activities to its Italian site in Luzzara in 2017; this in turn induced the company to hire 10 new employees. Producing in Italy, the company is more flexible and can take advantage of the "made in Italy" effect. Sources: Gazzetta di Reggio 11/03/2017 Il Sole 24 Ore 13/04/2017 Sources link: http://gazzettadireggio.gelocal.it/reggio/cronaca/2017/03/11/news/vimec-... http://www.ilsole24ore.com/art/impresa-e-territori/2017-04-13/da-luzzara... Offshoring detailsOffshoring date: 1990Offshoring location: ChinaOffshored business function: ProductionOffshoring governance mode: In house (in own facilities)Reason for offshoring: Costs reduction
