Dear valued stakeholders,
We take this opportunity to share with you some key company updates as we continue to experience internal and industry related challenges.
First and foremost, we would like to thank you for your ongoing support towards Cardinal Boxes. It is with long-standing relationships that successful businesses are built. We continuously strive to be your supplier of choice when it comes to your corrugated packaging needs through the production of high-quality products, strong customer service, and technical expertise. With that being said, we are aware of the impact that the extended lead times have on your business; and our entire team is working hard to correct this.
Although the risks of the pandemic have minimized for some industries, supply chain delays are an issue that we continue to face. These effects have been amplified due to the Russia-Ukraine war. Since the start of Covid, lead times have increased to upwards of 6 weeks from pre-Covid lead times of 2-3 weeks. This is further exasperated by Cardinal’s capital challenges in light of balancing escalating costs and supply chain pressures, resulting in a 12+ week lead time for our customers.
We are working diligently to get back on track through the following initiatives:
Pending capital raise which will be allocated to raw material to unwind our 6-month back-log of pending orders which is expected to be closed by June 2022.
Adding to our supplier base and enhancing existing partnerships to improve shipping timelines and enhance our capabilities to better service your requirements.
Lengthen our production shifts to accommodate influx of work as raw material comes in.
Expanding, renovating, and modernizing our production facility to create efficiencies in our operations and increase our capabilities to accommodate our growth. As we work through this complex project, we will do our best to minimize interruption and downtime to prevent inconvenience to your businesses. Please check our website for further updates.
Cardinal Boxes has experienced many economic ups and downs over the 50+ years that we have been in operation. We have full confidence in our team to see our way through this challenging period. Our values remain unchanged – Growing by listening to our clients and servicing their needs with high quality packaging solutions while taking care of our employees and giving back to our community.
Brent Hughes, CEO