The Autumn 2022 quarterly Board of Directors meetings of the different companies that makeup the Solid Group have completed. Those companies are:
- Solid Holdings SPC
- Solid Solar Development SPC
- Solid Electric SPC
- Solid Consolidated Inc
- Solid Wood SPC
- Portable Sawmill US LLC
- Well Worked Wood SPC
Resolutions passed by the Boards of Directors of these companies has put a 45 day moratorium on purchasing of all goods and materials, equipment or other items from the People’s Republic of China. These actions have been taken due to the increased business risks created by the events in Communist Party Congress and statements made by Xi Jinping. The business risks identified are:
- The continued stability of the government of the People’s Republic of China.
- The continued stability of business operations in China due to the policies dictated in the Communist Party Congress including Zero COVID and others.
- Increased backlash from our US and Canadian customer base for selling goods and materials, equipment or other items made in the People’s Republic of China.
Solid Consolidated, Inc. as the primary purchasing and importing agent for these companies has been directed to:
- Suspend all purchasing activities with companies in the People’s Republic of China (that are not already in process) until Dec 10, 2022 or until otherwise notified.
- Notify our business partners in the People’s Republic of China of this moratorium and to inform them that we look forward to doing business with them in the future when the business risks become more manageable.
For short term requirements we are exploring purchasing options in other countries. We will be posting updates to this situation here, as they develop. If you have any questions or comments on this matter please contact us .