Fasteners Land Gem-Year Owner On Forbes Rich List
FEATURE
Tsai Yung-Lung
Gem-Year Industrial owner Tsai Yung-Lung was named to the Forbes’ Taiwan Rich List.
Tsai was listed at No. 18 with an estimated net worth of $1.57 billion, Forbes magazine reports. Last year he was ranked No. 46 on Forbes’ list of wealthiest Taiwanese.
“Shares of Tsai’s family Shanghai-listed Gem-Year Industrial, one of Asia’s largest suppliers of bolts, screws, nuts and fasteners, tripled amid China’s big stock boom,” according to Forbes. “The company also has separate manufacturing operations in Malaysia.”
Forbes’ list was compiled using shareholding and financial information obtained from the families and individuals, analysts and stock exchanges, including the Taiwan Stock Exchange. Public fortunes were calculated based on stock prices and exchange rates.
Founded in 1995, Gem-Year has over 2,500 employees and 170,000 million sq. meters of space, its own canal loading dock, automatic retrieval warehouse with capacity of 100,000 metric tons, and a R&D center. Gem-Year related companies include Jin-Herr Taiwan and Chin-Well Malaysia.
Gem-Year’s annual production capacity is 200,000 metric tons and is ranked in “China’s Top 500 Machinery Enterprises.”
Gem-Year has 37 company-direct sales/retail locations and 10 sales representative offices in China. Gem-Year exports fasteners to North America, Europe and Japan.
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