Grand Opening of Sheh Fung Screws Vietnam for Higher Global Market Share
Positioned to produce high value-added fasteners and aiming to be an important fastener manufacturing hub in Southeast Asia as well as expand the global market reach, Sheh Fung Screws invested NT$1.2 billion in 2022 to set up a new factory in Phan Thiết, Bình Thuận, Vietnam, and held its official inauguration on Dec. 9, 2024.
Under the gracious invitation of President Terry Tu and General Manager Kent Chen, two of Sheh Fung Screws' top management helmsmen, important VIPs such as partner companies and official reps from Taiwan and Vietnam (incl. President Tu-Chin Tsai of Sun Beam Tech, President Winnie Lee & Vice President Wu Ming Ying of VPIC, General Manager Lai Kim of Bita’s, Deputy Director Hsiao-Feng Tseng of Taipei Economic & Cultural Office in Ho Chi Minh City, General Manager Li-Ching Chen of Taipei Exchange, Vice Chairman Nguyễn Hồng Hải of People's Committee of Binh Thuan Province, retired Director Ông Phùng Hữu Cư and new Director Ông Lâm Văn Quý of KCN, Chairman Trần Duy Thanh of the Labor Union of Binh Thuan Province, Vice General Manager Li-Chuan Huang of Taipei Fubon Bank, etc.) attended the event. With a wonderful opening dance, a magnificent drum show, and lion dance performance, the management and invited guests witnessed the significant official inauguration of the first overseas factory of Sheh Fung, which has been established for more than 50 years.
First Overseas Base
Targeting High Value-added Items
Unlike its Taiwan headquarters as an order-taking center, Sheh Fung Screws Vietnam, with a usable area of 20 hectares and a workforce of around 150 employees in the 1st phase, is positioned as a manufacturing base. Currently, the average capacity per month of the 1st phase reaches 600-800 tons, and the factory is equipped with about 80 sets of screw formers and advanced heat treating / plating / painting / QC / packaging equipment, and especially focuses on the production of wood screws, self-drilling screws, and other high-volume & low-variety items. In the 2nd and 3rd phases, Sheh Fung is also planning to expand its capacity by utilizing more factory space to meet the demand of global customers from different fields, gradually broadening its product portfolio to include wire drawn products, automotive fasteners, and even other higher value-added products. It will also introduce the concepts of unmanned factory and AGVs in order to make its Vietnam factory much more differentiated from its Southeast Asian counterparts and stay ahead of the market.
In addition, Sheh Fung Screws Vietnam has the full capability to provide global customers with superior-quality products and full service at an excellent value, thanks to its proximity to Formosa Ha Tinh Steel (a supplier of high-quality wire), Vietnam's larger production hinterland, young and energetic local workforce, the EVFTA, as well as the concerns about geopolitical risks of “requiring Chinese and Taiwanese suppliers to set up factories overseas and possible tariff barriers imposed by more countries”.
In the opening speech Sheh Fung President Terry Tu said, “It has taken 2 years for us to complete the construction of the Vietnam factory in 2024 since the groundbreaking in 2022. Thanks to the efforts of Sheh Fung's executives and the whole team, the construction went smooth and the result was better than we expected. We are grateful for the help and support from Deputy Governor of Bình Thuận Province, the directors of relevant authorities, many officials & guests, and the efforts of General Manager Kent Chen, who had flied between Taiwan and Vietnam for times for selecting the location before the construction was started, making Sheh Fung's construction on the best location smooth and complete. Thus far, we have utilized 5 hectares of land in the first phase and expect to complete the development of 20 hectares of land within the next 5 years. We are confident that we will have more investment plans in the future.”
▲ (Left to right) President Terry Tu and General Manager Kent Chen
General Manager Kent Chen of Sheh Fung Screws said, “Spending 2 years building the factory was really a tough job, but today I’m thrilled to see the opening of the new Vietnam factory. Thank a few Taiwanese colleagues staying with me in a container house during the construction period and many local Vietnamese colleagues for their support, so our Vietnam factory could be completed in such a short time. I am very optimistic about the future development of our Vietnam factory and look forward to welcoming more guests from Taiwan to invest Vietnam with Sheh Fung.”
More Advantages for Better Growth
In order to enable the guests to experience the scale and environment of the new factory in Vietnam, Sheh Fung even opened the factory area, which is normally not open to the public, for the guests to visit. Through the detailed explanation and introduction by the staffs on the spot, Sheh Fung hoped that the industry would understand more about its efforts in expanding the capacity and striving for the global market share, and attract more enterprises to invest in Vietnam.
(Inside the factory)
TIFI Honorary Chairman Tu-Chin Tsai, who was invited to attend the event, praised: “As a market leader in painting technology, Taiwan-based Sheh Fung's macro perspective and global vision supported by stable supply of high quality wire rod all help create promising prospects for its development in Vietnam. Convenient land/sea/air transportation, modern factory, one-stop Industry 4.0 intelligent production lines, and the FTAs signed between Vietnam and ASEAN and many other countries will help Sheh Fung become the hub of fastener production in Southeast Asia and lead Taiwanese fastener industry to a new milestone in Vietnam”.
Taipei Fubon Bank Vice President Li-Chuan Huang also noted: “The beautiful & futuristic administration building, bright and polished floors of the new workshop, the new and complete equipment, and energetic Vietnamese employees give a good impression of the dedication and expectations of Sheh Fung Group for its new factory. I believe that when customers visit the factory in the future, they will also feel Sheh Fung's international vision. Wishing Sheh Fung a full order.”
(Office)
Work Together to “Fasten Our Future”
Echoing the theme of “Fasten Our Future” for the new factory opening, Sheh Fung also held the annual employee tour together with the inauguration, inviting all employees of Sheh Fung Screws and Sheh Kai Precision to participate in this important chapter of Sheh Fung's history, hoping that after letting the company's employees clearly understand the scale of the new Vietnam factory and the Group's potential and plans for future development, they can also work together to create a future of cohesion and growth with the fastener industry. In addition, as Sheh Fung Screws Vietnam received the support of many companies in the process of establishing the factory, Sheh Fung also took this rare opportunity to invite a few reps of these companies to come up to the stage to receive public praise.
Sheh Fung said: “We would like to thank all of our partners for their hard work and professional support during the construction process, from investment, design, planning to completion. The Vietnam factory is not only an expansion of our business, but also the starting point of a new milestone. We hope to grow together with all of you in the future and create a great success!”
Sheh Fung contact: Frank Lee, Assistant Sales Manager
Email: shehfung@shehfung.com
▲ Taipei Exchange presented Sheh Fung with a sculpture of a golden ox, wishing it a prosperous business and expecting its future development to be as tenacious as the golden ox.
▲ As the opening day happened to be the birthday of General Manager Kent Chen, Sheh Fung President Tu and the staff arranged a special birthday celebration before the dinner to make the event more joyful.
