Hammond Power Solutions does not anticipate ‘material impact’ from tariffs

Hammond Power Solutions (HMDPF) has determined that the recently expanded U.S. tariffs on steel and aluminum derivative products apply to certain materials and components included in many of the Company’s products. The Company expects these tariffs to have a relatively uniform impact across its industry and will work collaboratively with its customers and suppliers to manage and offset the effect of these additional costs. Although there may be short-term implications arising from these changes, at this time, the Company does not anticipate that the tariffs will have a material impact on its business. “While this change in trade policy brings complexity and cost to the industry, we have confidence in our adaptable team and in our strong relationships with our customers and suppliers to navigate these challenges effectively,” said Adrian Thomas, CEO. “We remain focused on executing our long-term strategy, which includes the continued growth of our market share in in the United States and select global markets.” The Company will continue to monitor tariff-related developments closely. However, given the fluid nature of international trade dynamics, it does not intend to issue further press releases addressing the impact of tariffs, unless otherwise required by law.