TIFI 2017 Annual Member Meeting & Election of Directors/Supervisors

by T.F. Tsai, Fastener World

Taiwan Industrial Fastener Institute (TIFI) held “the 18^th Annual Member Meeting” and election of new directors/supervisors at Kaohsiung Grand Hi-Lai Hotel on December 15^th. Widely supported by all the attending directors, supervisors and members, Mr. Tu-Chin Tsai was elected as the new chairman. Prior to the new title, Chairman Tsai was the vice chairman and convener of TIFI. His company, Sun Beam Tech Industrial, has been devoted to the development of Taiwan’s fastener industry for more than three decades. With his success in business, Chairman Tsai also has abundant experience of TIFI operation, so the election result of becoming the new TIFI chairman is publicly respected and well deserved. Please see the list for new directors and supervisors.

The meeting began with the speech delivered by the 17^th Chairman Anchor T.H. Chang, and he first expressed his gratitude toward the support from all the members, supervisors and directors to take the institute going further. Moreover, with the joint effort of TIFI and other relevant authorities, the number of exhibitors that registered in "Taiwan International Fastener Show" in April 2018 has increased by 410 and the number of booths booked has reached up to 1,110, making the show the world’s 3^rd largest international fastener exhibition. TIFI is also actively cooperating with the Industrial Development Bureau (MOEA) of Taiwan in promoting the “NICE” program for upgrading and guiding the fastener industry,”” which aims at the development of high-value-added products, domestically-made smart device, competent workers, and eco-friendly process. The investment scale reaches NTD 300 million to optimize the fastener industry structure, raise the export unit price, as well as stabilize the export value growth. In the future, TIFI will adopt computerized information management and boost the publicity of the institute’s website, in the hope of serving the industry more effectively and assisting its members in opening up business opportunities.

Speaking of fastener exports, Taiwan’s export volume and value peaked in 2014. However, the economic performance of European and American countries fell short of expectations with other uncertainties such as Brexit brought about the first decline of over 6% in Taiwan’s fastener industry in 2016. What’s worse, meanwhile, the EU lifted the anti-dumping duty on carbon steel screws in China, causing an impact on Taiwan’s fastener exports. Fortunately, 2017 saw the first comprehensive recovery of all economies. With the strong consumption of the advanced countries such as the US, Japan and Europe, Taiwan’s fastener exports reached 1.32 million tons (up 3.6%) from January to October 2017, with a total value of USD 3.52 billion (up 12%). If this trend continues, chances are that another peak will be reached in the future. With more than 60 years of history, Taiwan’s fastener industry has been cultivating numbers of technologies and professionals, and looking forward to more future breakthroughs, hoping to become one of the top five automotive fastener suppliers by 2020.

The meeting coincided with the election and attracted many participants, including Minister of Economic Affairs Mr. Jong-Chin Shen, President of Taiwan’s China Steel Corporation (CSC) Chao-Tung Wong, industry representatives, government officials, and over 500 guests and members, showing TIFI’s influence over the industry. New Chairman Tu-Chin Tsai stated in his inauguration speech that it takes courage to bear the responsibility as a chairman, but he will work hard alongside the whole team and unite all the members to lead the industry to prosperity. The dinner banquet arranged later was warmly pleasant, and the guests enjoyed mingling, drawing the meeting to a successful ending.