Strengthening Advantages in Wire Supply, New Best Wire to Organize “Fastener Division” for High Value-added Wire Development
by Gang Hao Chang, Vice Editor-in-Chief of Fastener World
Having 3 wire processing factories in Taiwan & China and over 90% of its wire sold to domestic and overseas fastener industries, New Best Wire Industrial Co., Ltd. is a main supplier of secondary processed wire for automotive and electronics industries. Valuing the development of the automotive supply chain and manufacturing of higher value-added products, New Best Wire is seeking business transformation to reinforce its competitiveness and is planning to set up a new “fastener division” for developing the most suitable and competitive wire based on clients’ required features and properties of higher value-added and special material wire.
New Best Wire Has Ways to Improve Clients’ Manufacturing Efficiency
Many fastener factories used to face bottlenecks in transformation to manufacturing high value-added fasteners, for example, the delayed R&D due to insufficient material supply, or the difficulty in finding out a material developer, which would no doubt put companies facing any challenges in a big risk. General Manager David Chen said, “This is why we’d like to set up a new fastener wire development division. In our previous experience in contacting foreign clients, we found that the development of fasteners made of new materials must be supported by the supply of new material wire. Instead of contacting the upstream steel mills directly, it will be better for clients to hire New Best Wire as a powerful middleman in-between, which can greatly shorten the R&D process of clients’ products."
Reciprocal to Each Other /
New Best Wire Establishes a Win-win Strategy for Upstream and Downstream
According to New Best Wire, when the new fastener division could operate smoothly, it definitely would bring as many as positive advantages to each party. First, there will be more clients from the application end using the wire developed by New Best Wire; second, New Best Wire could also bring more clients to upstream steel mills, making them willing to develop new high quality wire with less applications in the markets and creating the max. benefit for the upstream and downstream. GM Chen said, “According to my observation, the market competition in Taiwan is becoming more fierce and the orders to Taiwan show signs of shrinkage, which means many orders for general products have been switched to other countries! Through this new mode, we hope to bring more clients to New Best Wire and upstream steel mills.”
Diverse Material Range and Superior Quality /
New Best Wire Exports to Japan and Other Major Markets
Although the world continues to watch the aftermath of USA-China Trade War, New Best Wire still proceeds steadily and step by step. In addition to around 9,000 tons of alloy/carbon steel wire supply from its China factory to automotive (85%) and electronics (15%) industries, its factories in Taiwan also produces 10,000+ tons of carbon steel wire and 1,100 tons of SS wire (inclusive of 8,000 tons of high value-added wire) per month. Moreover, due to the growing domestic market demand boosted by Tokyo Olympics 2020, New Best Wire has also tapped into the domestic supply chain of Japanese construction industry in recent years. The wire specifications available are 1mm-50mm.
Chairman of Board Yu-Tang Wu said, “We’ve made a large investment in new types of quenching furnaces and automatic acid pickling facilities in Taiwan and China and introduced ERP system that even allows for the traceability of the no. of furnace in which every batch of wire is processed. Furthermore, we also take full compliance with all manufacturing/certification/environmental protection regulations, which not only has made us become part of the automotive supply chain, but also made lots of European/U.S. car manufacturers auditing our factories feel confident of our quality.”
GM Chen added, “Keeping our quality management system in line with European/U.S. standards has been always what New Best Wire is focused on. This year we, maintaining our leading position ahead of other southeast Asian countries, are planning to introduce ISO 45001:2018 and improve our industrial competitiveness.”
The Road to Next 25th Anniversary Milestone
Evolving from a small factory to the current scale, New Best Wire did make much effort to be successful. If New Best Wire could make the most of its fastener division to help clients develop high quality fasteners for overseas industries, it’ll be a real bonus for the company to enter the international market.
Chairman Wu noted, “The best shortcut to making clients choose us is to focus on the global market, create features of our own service, introduce advanced technology & facilities and go toward the development of high value-added industries.”
New Best Wire contact: Mr. Joey Chen (Manager)
Email: joey@newbest.com.tw
http://www.fastener-world.com.tw/newbest
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