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Sheh Fung Screws Expands Sales to the Auto Fastener Supply Chain

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2023-07-12

Sheh Fung Screws reported good news that it shipped a small amount of car seat fasteners to Chrysler last month. It is also developing battery module fasteners. In addition, new product sales achieved good results with the cumulative order value reaching 70 million NTD from last October to this June. Its Vietnam plant will be completed at the end of this year, which is expected to start manufacturing standard products in Q1 2024 and sell to Europe, and the initial production capacity will be 600-800 tons per month, which is estimated to contribute NTD 600 million to Sheh Fung's revenue a year.

Sheh Fung General Manager Kent Chen said that Taiwan's fastener prices have gone down last year because of lower raw material prices, the beginning of this year saw a little raise, but the recent market showed the prices were down again. Customers will certainly wait and see, but he believes that the steel market has almost reached the low point. The prices could go lower but not too much. The third quarter of this year is the bottom; the fourth quarter can be better than the third quarter.

On the other hand, Sheh Kai Precision, a major manufacturer of composite screws, has benefited from the promotion of the solar industry by various countries this year, and orders for self-drilling screws are visible through the end of the year. Sheh Kai Precision believes that the uptrend will last at least for 2-3 years and has expanded its production capacity to 7 million pieces per month, aiming to raise it to 15 million pieces. Due to limited space at Sheh Kai Precision's plant, Kent Chen said he could rent the land of Sheh Fung Screws in Vietnam, and the two companies will combine resources of each other.

世豐螺絲

車用螺絲

越南廠

歐洲市場

世鎧精密

複合螺絲

Sheh Fung Screws

automotive screws

Vietnam plant

European market

Sheh Kai Precision

composite screw