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New Best Wire Industrial Strengthens Overseas Presence and Implements Carbon Reduction

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2023-06-12

New Best Wire Industrial is a major wire rod manufacturer and is optimistic about the future economic development of ASEAN. In recent years, they have set up a factory in Vietnam and focused on the development in the ASEAN and Indian markets, to take advantage of multiple production locations and regional complementary strategies to reserve operational momentum.

As for the future outlook, they pointed out that the economy turned around in the fourth quarter of last year and they are not optimistic about the first half of this year. Unit price and market demand are slowing down so they are taking conservative actions, but they have high hopes for Vietnam and ASEAN and are not ceasing overseas investment. Currently, they have acquired 66,116 square meters of land for its Vietnam plant, with the current capacity of about 1,000 tons per month. After completing the construction of the STC furnace, they will reach 5,000 tons per month by 2025. They are actively pursuing business opportunities in the ASEAN and Indian markets.

Although wire rod is an energy-consuming industry, they have long focused on environmental sustainability issues and are actively promoting ESG, with advance deployment of energy saving and carbon reduction. They have established an energy saving team since 2006 and a sustainability team in 2022, with environmental, social responsibility, corporate governance management guidelines and specific action plans disclosed in the sustainability report. In terms of energy saving in production lines, all boiler fuels have been changed from heavy oil to natural gas (LNG), and all STC annealing furnace fuels have been changed from propane (LPG) to natural gas, significantly reducing carbon emissions. In addition, the solar power generation system is expected to be completed within two years.

New Best Wire Industrial said that the Taiwan plant's overall revenue will grew 2.6% in 2022. They have reduced greenhouse gas emissions by 3.5% which is 1,200 tons and waste by 4.9% which is 342 tons.

強新工業

螺絲線材

節能減碳

東協

印度

越南廠

New Best Wire Industrial

wire rod

energy saving

carbon reduction

ASEAN

India