Chin Well to Boost Production Capacity on Demand

Chin Well Holdings Bhd has received maximum orders for fasteners for the first quarter of 2014, which corresponds to the group's 2014 fiscal year third quarter, and is now taking orders for the second quarter. Group managing director Tsai Yung Chuan said the orders from Europe and the United States would improve the group's revenue and bottom-line. “With this uptrend likely to continue, we intend to upgrade our production capacity for our fastener products at our manufacturing facilities in Penang and Vietnam.” He said the group would spend RM10mil in capital expenditure next year, which would be generated by internal funding, to expand its production capacity and range of products. Tsai said the group also planned to expand its production capacity for threaded rods due to the five year anti-dumping duty imposed by the United States on steel threaded rod manufacturers in India and Thailand effective August 2013. “The industrial product and construction material wholesalers in the United States are now turning to Chin Well to source mild steel fasteners.