Volex takes hit as Apple goes green
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.A green push by consumer electronics giant Apple will end up costing the maker of its leads and cables up to $6m (£3.9m) this year.
Apple is the biggest customer of Volex, which makes the power cables and USB leads used in everything from laptops to iPhones and iPads. Volex is 23 per cent-owned by the billionaire financier Nat Rothschild. But the US firm is on a drive to move its products towards halogen-free power cables, which are less harmful to the environment when disposed of. The start-up costs in designing and making the new cables will cost it up to $6m in the current financial year, Volex said.
Stripping out these one-off costs, profits will be in line with market expectations.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments