Malaysia-based Chin Well Holdings will increase its fastener capacity in Vietnam, which offers cheap labor that can be “trained cost effectively,” according to the StarBiz.

Group executive director Tsai Chia-ling told StarBiz the group is planning for its Vietnam operations to produce more DIY and other types of fasteners.

“In July, the Vietnam facility will start to manufacture a new range of fasteners for South-East Asian market,” she stated. “These new fasteners will be used to connect reinforced concrete bars used in high-rise buildings.”

Chin Well said it will raise the production volume of DIY fasteners at its Vietnam plant in the third quarter of 2018, the StarBiz reports.

“We have plans to tap into the European market with our DIY fasteners. Currently, the Vietnam facility produces about 60,000 tonnes of fasteners per year.

“We foresee the operations in Vietnam to contribute about 50% to Chin Well revenue in two years, compared to 30%-40% now,” she added.

Chin Well reportedly is talking to a major DIY customer in the U.S. who could take up about 15% of the group’s annual output of fasteners in Vietnam.

According to the Global DIY Summit 2018 website, the DIY markets of North America and Europe total €463 billion (US$571.6 million).

Founded in 1989, Chin Well manufactures and supplies carbon steel fasteners annually for highway guard rails, power transmission towers, furniture and other applications. Web: ChinWell.com.my