Who’s scared of the Donald? Methode Electronics is…
Methode, a Chicago-based designer and maker of parts for automotive, appliance and other industries, has a major manufacturing plant in Mriehel and about two-thirds of its 4,300 workers are in Malta and Mexico
One of Malta’s main employers has listed US president-elect Donald Trump as a potential risk factor, according to regulatory filings filed by Methode Electronics with the Security and Exchange Commission.
Methode, a Chicago-based designer and maker of parts for automotive, appliance and other industries, has a major manufacturing plant in Mriehel and about two-thirds of its 4,300 workers are in Malta and Mexico.
Earlier this week, Methode added Donald Trump to list of potential “risk factors” due to comments on the North American Free Trade Agreement.
“Any attempt by President-elect Trump to withdraw from or materially modify NAFTA and certain other international trade agreements could adversely affect our business, financial condition and results of operations,” Methode said in bold letters.
“A significant portion of our business activities are conducted in foreign countries, including Mexico and China.”
Trump’s victory in the US presidential election, as well as his winning control of the House of Representatives and Senate of the United States in the congressional election, could pose problems for companies with plants outside the United States, as well as those in the clean energy industry and healthcare.
In 2016, Methode booked $809 million in sales – more than 60% was in the US, but about 15% was in China. The company has plants in Shanghai, Cairo, Malta, and Monterrey, Mexico.
“During the campaign, President-elect Trump made comments suggesting that he was not supportive of certain existing international trade agreements, including NAFTA,” Methode said, adding that it was unclear as to whether any changes will in fact be made to international trade agreements.