Asian Fastener Companies See Mixed Results
Asian Fastener Companies See Mixed Results
Jason Sandefur
Results were mixed for fastener companies in Asia during 2007.
National Aerospace Fastener Corp. in Taiwan saw revenue rise 7.5% to NT 544 million (US$17.1 million) during the first nine months of the year, but the company reported a NT 86 million (US$2.7m) loss for the period.
Taiwan’s Tycoons Group Enterprise Co. Ltd. saw 11-month revenue drop 29% to NT 1. 05 billion (US$31.5m). Profit figures were not available.
Rodex Fastener Corp. of Taiwan reported revenue climbed 36% to NT 3.33 billion (US$103.5m) during 2007, which included a 6.5% revenue jump in December to NT 249.2 million (US$7.8m).
Sanyo Industries of Japan reported sales during the first nine months of fiscal 2008 dropped 6% to 23.99 billion yen (US$224.3m), with a net loss of 78 million yen (US$729,215).
Japan Power Fastening Co. saw revenue grow 26% to 10.95 billion yen (US$102.4m) in 2007, while operating profit slipped 38% to 307 million yen (US$2.9m) and net profit reached 0. For 2008 the company projects a 4% gain in revenue to 11.4 billion yen (US$106.55m), with net profit growing to 450 million yen (US$4.2m) by year’s end.
And Gem-Year Industrial Corp. in China said sales during the first nine months of 2007 rose to RMB 952 million (US$132.4m), while net income grew to RMB 34 million (US$4.73m). �2008 FastenerNews.com
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