Not knowing if or when GSP duties paid might be refunded put all expansion plans on hold. GSP renewal let us hire a dozen workers and buy new equipment leading to even more sales opportunities.
Universal Arquati Moulding is a leading U.S. supplier of quality picture frame moulding. In addition to its California headquarters, the company has facilities in Somerset, New Jersey and Carrollton, Texas.
When GSP expired in August 2013, Universal Arquati could not compete against businesses importing from non-GSP countries such as China. Uncertainty related to GSP renewal and refunds led the company to freeze all hiring and investments.
GSP renewal leveled the playing field for Universal Arquati against imports from other countries. GSP refunds and higher sales allowed Universal Arquati to hire 12 new workers and buy new equipment that will creates even more new sales opportunities.