Power Solutions International Inc's Comment on Supply Chain
The Company sources raw materials based on market factors and utilizes its large OEM customer base to optimize volume and global supply opportunities, providing cost efficiencies and streamlined procurement for customers. It holds a nonexclusive supply agreement with HD Hyundai for specified engines in the US, Canada, and Mexico, with automatic one-year extensions commencing in 2024. In November 2023, the Company entered exclusive supply agreements with CDM and SPY for engines in North and South America, replacing engines previously supplied by Shenyang Aerospace Mitsubishi Motors Engine Manufacturing Co., Ltd. (SAME), whose supply was suspended due to intensified enforcement of the UFLPA. These agreements include automatic one-year extensions starting December 2024 unless terminated with six months' notice.
Power Solutions International Inc's Comment on Supply Chain
The Company sources raw materials based on market factors and utilizes its large OEM customer base to optimize volume and global supply opportunities, providing cost efficiencies and streamlined procurement for customers. It holds a nonexclusive supply agreement with HD Hyundai for specified engines in the US, Canada, and Mexico, with automatic one-year extensions commencing in 2024. In November 2023, the Company entered exclusive supply agreements with CDM and SPY for engines in North and South America, replacing engines previously supplied by Shenyang Aerospace Mitsubishi Motors Engine Manufacturing Co., Ltd. (SAME), whose supply was suspended due to intensified enforcement of the UFLPA. These agreements include automatic one-year extensions starting December 2024 unless terminated with six months' notice.
Sources:
Power Solutions International Inc 's official press releases and regulatory filings; CSIMarket.com's supply-chain research; and the financial filings and press releases of other companies cited in this report.
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