WPG Americas Announces New Foreign Trade Zone in Mississippi
SAN JOSE, Calif., April 27, 2020 /PRNewswire/ -- WPG Americas Inc. (WPGA), a subsidiary of WPG Holdings, the largest global electronic components distributor, today announced its distribution center in Southaven, MS is fully operational as a Foreign Trade Zone (FTZ). WPGA products will now move directly from the port of arrival to its 55,000 square foot FTZ distribution center without formal customs clearance or review, avoiding delays at congested ports and enabling WPGA customers faster time to market.
U.S. Foreign-Trade Zones (FTZs) are designated sites in the United States which are considered outside the United States for Customs purposes. Duties on goods stored in the activated FTZ are deferred until they are removed from the zone into U.S. commerce or may be eliminated entirely on goods exported out of the country from the FTZ. Operating as an FTZ offers companies several important benefits including duty deferral, duty exemption, duty reduction (inverted tariff), Merchandise Processing Fee (MPF) reduction, quota avoidance, and overall streamlined logistics.
"We are proud our warehouse has gone live as an authorized FTZ. To achieve this status the company had to go through comprehensive audits of our systems and processes. This is a testament to the quality of WPGA's staff and internal controls," said Rich Davis, President of WPGA. "Utilizing FTZ status brings greater benefits to our customers by significantly reducing costs, increasing supply chain efficiency and shows our continuous commitment to help them grow their business."
About WPG Americas Inc.
Headquartered in San Jose, CA, WPG Americas Inc. is a member of WPG Holdings, a $17.07B worldwide distributor of semiconductors, passive, electro-mechanical and display products. Founded in November 2007, WPGA is a franchised partner for leading technology suppliers. As a member of WPG Holdings, WPGA is uniquely positioned to offer total solutions to its diverse customer base. WPGA continues to introduce new leading-edge technologies, quality service and design-in focus through its superior engineering programs.
For more information, visit www.wpgamericas.com. You can also follow us on LinkedIn, Twitter, and YouTube.
SOURCE WPG Americas Inc.
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