China Factory of New Best Wire Sees Strong Demand for Wire for Auto Screws

~The China-based factory of New Best Wire has focused on wire for auto screws in recent years due to the strong demand in the automotive market of China. Its excellent revenue contributed to about 50% of the total profit.

President Yu Tan Wu of New Best Wire said it is a company in Taiwan that can offer the widest ranges of wire in various specifications. In recent years it has turned to the development of wire with large diameter for automotive and machinery applications. Materials include carbon steel, alloy steel, and stainless steel; sizes are from 1mm-45mm. Wu said, they can provide almost all steel Taiwan CSC is able to refine. The current capacity of its Taiwan factory is 9,000 tons per month, 1/3 of the volume is mainly for export to Southeast Asia, the Middle East, Europe, and America. The factory in China has been with full expectation from New Best Wire. Wu said, in order to correspond to the booming automotive market of China and comply with the policy of localization of parts supply, 10 years ago the product categories of New Best Wire have been divided into the domestic sales of wire for auto screws (70%), for electronics screws (20%), for machinery (10%), and for rails (10%) from the original foreign sales of wire for auto screws (10%), for electronics screws (20%), for construction (70%, mainly for export). It now focuses on the wire for auto screws with a high gross margin.

Wu said, the manufacturing facilities in its China factory are all in high class and its quality takes the lead among the local manufacturers. Its products are admired by car manufacturers from China, Japan, and Europe. The capacity is utilized to its fullest but the demand is still over the supply. The factory should even operate in weekends to digest the orders. New Best Wire continues to buy new equipment in its China factory and the capacity in Q4 this year can be 8,000 tons per month and is expected to reach 10,000 tons per month by 2016.

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