Chun Yu Group will go into directors re-election. As far as we know, Mr. Lin Whei-Cheng will be the chief director. The pro-market will posses two directors and two supervisors, and the pro-company will take a step back and possess 3 directors and one supervisor. Mr. Li Ming-Huang of Kin Chih Fu Co. (shareholder of Ofco Industrial Corp.) will still be the general manager. Chun Yu states that Ofco Industrial Corp. and Chun Yu are both screw companies with seperate products and if both companies can cooperate, there will be mutual benefits in the long term. The company has adopted professional manager system; therefore, the re-election is less likely to cast an effect on the business operation. It is believed that Kin Chih Fu Company's reinvestment in Chun Yu was due to its successful investment in Ofco as well as the stable and mature Taiwan screw industry. It is interested in further cultivating the screw industry and expanding business territory. It currently holds 20% of Chun Yu stocks, and coupled with the 10% held by the Gang's family, the pro-market amounts to 30%. The Li's family, founder of Chun Yu, has over 40% of Chu Yu's stocks. Chun Yu states that it will strive for peace and let the pro-market to undertake the position of chief director.

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2013-06-10

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