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Business of Chun Yu Looks Good in 2012’s Second Half
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2012-07-02
General Manager Simon Lee of Chun Yu Works & Co., Ltd. indicated during the company’s shareholders meeting that though the steel market in the second half of 2012 is tough, Chun Yu has developed high quality products for China Railway High-speed (CRH) and will cooperate with leading manufacturer in China. The company’s operation in the second half looks good.
Lee said owing to the impact of Euro debt crisis, the tough steel market will lead to a reduction of applications of high-class screws in the second half. Orders of middle and low price fasteners will thus increase. Yet, with the aggressive competition from China, the overall situation will remain weak. However, after a long-term plan, Chun Yu ‘s special products have acquired the international certification and have been successfully approved by leading CRH manufacturers. It expects these products could be immediately delivered right after the signing of the contract in the second half and would contribute great profits to the company business.
Benefited from the growth of the Indian Economy, its subsidiary PT. Moonlion Industries Indonesia contributed reinvested profits of over NTD54 million in 2011 because of the robust domestic demand. Moreover, Chun Yu has made great R&D breakthroughs in the screws used for auto suspension systems, railway screws, chain screws and assembly parts. Chun Yu’s competitiveness has been enhanced and it aims at penetrating the global market.
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