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Terry Tu Reelected as Sheh Kai's Director

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2014-06-18

Sheh Kai, a bimetal screw manufacturer, has recently completed the reelection of its directors and president Terry Tu has been reelected again. The reelection also announced the financial report in 2013 (revenue: NTD555 million, net profit: NTD45 million, EPS: NTD1.08). “The result last year was influenced by the antidumping duties of as high as 23.6% imposed by the EU against stainless steel fasteners from China and Taiwan. But this year we’ll take back what we lost last year,” said general manager Lin.

The combined revenue of Sheh Kai in Q1 this year reached NTD155 million (net profit: NTD15 million, EPS: NTD0.37), higher than the result last year. The artificial person pointed out “that the bimetal screw manufacturer Sheh Kai’s major market is Europe, so it was greatly influenced by the antidumping duties the EU imposed on stainless steel fasteners from China and Taiwan. However, it was later active in filing petitions to the EU and had been successfully accepted. The preliminary determination has been announced, saying that Sheh Kai’s bimetal screws can be excluded from the stainless steel fasteners involved in the case, which is good news to Sheh Kai.”

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