US manufacturing giant teases 'big' investment back into the American economy
The CEO of one of America’s largest manufacturing and appliance companies detailed going "big" on its investments in the U.S. economy and its supply chain that could have "crucial" outcomes.
"This year, we went big," Whirlpool’s Marc Bitzer said on "Mornings with Maria" Thursday. "With tariffs now finally coming into place and our trust and confidence in the administration will hold firm, we will invest more in the U.S."
"So we are about to make some big additional investments, and also communication, in favor of our U.S. factories," Bitzer added. "Because right now, very simply, economically, the business case for products made in the U.S. has just become a lot more attractive, and we will invest more."
Whirlpool, based out of Benton Harbor, Michigan, announced earlier this year that it would be introducing new products impacting 30% of their inventory range, the CEO noted, while confirming the brand’s intended refreshment of its sourcing and final production.
TRUMP GREENLIGHTS U.S. STEEL DEAL, PROMISING $11B INVESTMENT AND 100,000 AMERICAN JOBS
"Frankly... we could have had the choice. Do we produce it in Ohio? Do we produce this somewhere abroad? We will produce it in the U.S.," Bitzer said. "That is new products, capital investment products, but we will also invest more in the automation and the update of our factories."
"Vertical integration is a big topic for us. So, ultimately, it will be to the benefit of U.S. factories and U.S. products and, ultimately, U.S. consumers."
The company recently had a slight miss in its Q1 2025 earnings and revenue forecasts, and talked of Whirlpool’s positive stance against tariff pressures. But right now, its CEO claims its manufacturing is running at just 60% capacity.
"Once you get the volume of factories, and you run a factory [at] 70-80% capacity, that makes a big difference on your bottom line impact," Bitzer noted. "So you don't only need to raise prices, that's not the only way [you] get to profit."
"Having, in a fixed-cost business, a good and healthy factory load is a big deal. And I think we have… coming probably more in Q3 and Q4, we're very confident that we can fill the factories to the right levels," Whirlpool’s CEO continued.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
In fact, Whirlpool considers itself a "net winner" in current market conditions, and notably uses 96% American-sourced steel today.
"As a heavy-dependent steel appliance manufacturer [who] uses a lot of steel, we need strong U.S.-based steel production, period," Bitzer said. "And I fully agree this is crucial for the future of this country."