Boltun Considers Buying Shares of Thai Summit Chugoku Seira with Good Expectations to Potential Market Growth in ASEAN

With the gradual emergence of the influence brought by its previous acquisition, Boltun reported its EPS for the first half of 2015 to be NTD3.05. On the other hand, the revenue of Boltun in the most recent months seems to be not very outstanding due to the influence from Chinese automotive market, but market analysts think that Boltun’s profit in the 2nd half of 2015 will be stable with the percentage of its shareholding of the Xiamen-based factory reaching up to 55% and the increased profit of ESKA it has acquired. Whether Boltun will buy shares of the Thai factory or not will be announced soon. If it is “yes”, it will be favorable to Boltun’s deployment in ASEAN market. Boltun has good expectations to its growth in operating performance, increased efficiency of the group, and the market growth of ASEAN.

 

Boltun specializes in automotive fasteners (representing approx.. 80% of its total revenue), the remaining 20% is generated from fasteners for agricultural machinery, heavy industries, and precision machinery. Boltun’s major 4 customers are VW, Benz, BMW, and Nissan (all representing nearly 50% of its total revenue). The current revenue and profit of Boltun are mainly contributed by its factories in Tainan (Taiwan), Suzhou (China), Xiamen (China) and Germany-based ESKA. It owns all shares of the Tainan and Suzhou factories and owns 45% of the total shares of the Xiamen factory (the figure will increase to 55% in Q4). It now owns 85.71% of ESKA’s total shares.

 

Boltun acquired ESKA last year to expand its business in Europe and now it eyes on the ASEAN market and is considering purchasing 20-40% of the total shares of Thailand-based Summit Chugoku Seira for nearly THB0.15 billion. The determination will be later announced. The market analysts point out that major customers of Summit Chugoku Seira are Japanese car manufacturers and it has been reporting stable revenue and profit for many years. Boltun is very likely to buy shares of this fastener company in order to grasp the chance to expand its business in ASEAN. Boltun is expected to show significant growth in ASEAN next year.

 

In addition, the newly added capacity for automotive aluminum fasteners from ESKA may gradually reveal its influence in Q4. Market analysts are very concerned about the potential growth in future aluminum fasteners demand. If Boltun completes its business deployment in ASEAN this year, it is very likely that it will also start to consider investing in N. America. On the other hand, Boltun is also planning to purchase land in Tainan for further factory expansion.

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