Franklin, Wis. (PRWEB) January 19, 2012
Transpak Corporation, a third party logistics firm specializing in packaging, warehousing, order fulfillment and distribution, has been recognized as a foreign-trade zone (FTZ) site by the Port of Milwaukee, allowing area companies who partner with Transpak to benefit from the deferral, reduction or elimination of tariffs on imported goods. Transpak is the first packaging and logistics business in Wisconsin to receive this designation through the port, which became a FTZ grantee in August.
FTZs offer special customs treatment for firms that store, package, combine, process or distribute foreign merchandise at authorized sites. Products that are re-exported outside the United States receive duty-free treatment, and those sold domestically are exempt from tariffs until they leave the FTZ.
“At a time when our economy is becoming increasingly global, foreign-trade zones offer the possibility of substantial savings and financial flexibility when it comes to import tariffs,” said Paul Wendorf, executive vice president of Transpak. “Often, companies who utilize FTZs realize a return on investment in just a few months, based on lower fees and improved compliance.”
In addition to tariff benefits, Transpak’s state-of-the-art, 300,000-square-foot facility, with an additional 50,000 square feet for FTZ and packaging needs, in Franklin, Wis. offers a number of features designed to help businesses concerned with operational efficiency and safety. The building offers 24-hour security, 450,000-pound overhead crane lift capacity, clean room capabilities and an online inventory management system that allows customers to monitor their assets remotely in real time.
“For companies with international operations, having a partner that can make logistics simpler becomes invaluable,” Wendorf said. “This is especially helpful for our local labor market, because it allows regional industrial companies to compete globally.”
For more information on the Foreign-Trade Zone program, visit the website of the U.S. Foreign-Trade Zones Board at http://ia.ita.doc.gov/ftzpage.
About Transpak Corporation
Transpak is a third party logistics (3PL) partner for packaging, warehousing, distribution and logistics needs. Transpak specializes in warehousing and logistics support, export packaging, contract packaging, Government and Military packaging and mobile packaging services. From large products to small, whether they are coming or going, Transpak can assist. For more information, please visit the company’s Web site at http://www.transpakusa.com or contact the company at 414-855-9200.
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