NEW BEST INDUSTRIAL's Suzhou Plant to Expand Capacity in 2014

Wire giant NEW BEST INDUSTRIAL CO., LTD. holds positive outllook for the automotive industry of Mainland China and plans to expand wrie material production line in 2014 for the plant in Suzhou. The new capacity of the plant will go into operation in Q4 2014, and is expected to be 30% higher than the previous level, adding to the business power of the future.

 

On December 5, the company's stock price closed at NTD 14.64, up NTD 0.2.

 

NEW BEST INDUSTRIAL is also the downstream client of China Steel Corp., and its self-owned (100%) Suzhou plant mainly supplies wires for downstrean automotive fasteners with clients of global giants including Japanese, European, American, and Chinese auto plants.

 

Benefited from stablized POs and the previous addition of capacity, NEW BEST INDUSTRIAL contributes a higher profit of NTD 42 million to the parent company in the first 3 quarters of 2013. The accumulative net profit after tax during the first 3 quarters is near NTD 100 million with EPS at NTD 1.

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