Seat belt fastener manufacturer Getac Technology will expand automotive component capacity at factories in eastern China and Vietnam, DigiTimes reports. The added capacity is expected to boost automotive component sales from 10-15% of overall revenues to 20% within three years.
“Getac is currently the largest seat belt fastener maker worldwide, shipping 140-150 million units a year, writes Aaron Lee for DigiTimes. “Getac’s seat belt fastener’s supply can be used in 35-40 million cars a year.”
The Taiwan-based company has begun diversifying its production by entering the automotive components market with ECU housing and electronic throttle controllers. Getac has increased its guidance by 20% to US$33 million in 2017, based on current orders.
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