TIFI’s Wu Urges Investment in Taiwan
TIFI’s Wu Urges Investment in Taiwan
John Wolz
Citing several advantages, the chairman of the Taiwan Industrial Fasteners Institute declared the country �still stands out to be in a better position with many advantages for running a business� and called on manufacturers to expand fastener production.
TIFI chairman John Wu noted that though some Taiwanese fastener manufacturers have invested in China and other Asian countries, there are reasons to return and make Taiwan �the island of the world.�
In a speech to the TIFI, Wu cited steel supply, improved production equipment, stable labor costs and convenient shipping as advantages for Taiwan fastener manufacturing.
Taiwan exports 90% of its fastener production and the export volume has risen from 580,000 metric tons in 1993 to 1.2 million metric tons in 2002. Wu said Taiwan provided 11% of the global fastener supply last year.
However, the average price dropped from U.S.$1.47/kg in 1993 to $1.30.
�By encouraging and helping each other, let�s build another marvelous milestone in the decade to come,� Wu urged Taiwan fastener manufacturers. He set goals of increasing export volume to two million metric tons per year or 16% of global supply and increasing prices by upgrading fasteners. E-mail: tifi@ms12hinet.net �2003 FastenerNews.com
There are no comments at the moment, do you want to add one?
Write a comment