Taiwan Fastener Makers Set Up Aerospace Venture

Jason Sandefur

Five Taiwan fastener manufacturers plan to launch an aerospace fastener joint venture in the second quarter of 2004. The venture would be a partnership between Chun Yu Works & Co., San Shing Fastech Corp., Ying Ming Industry Co., Jau Yeou Industry Co. and Anchor Fasteners Industrial Co.\ San Shing will concentrate on the development and manufacturing of specialty nuts; Chun Yu on wire materials and large-size bolts; Jau Yeou on small-size bolts; Ying Ming on large-size bolts; and Anchor on rivets.
The deal calls for an initial capitalization of NT$100 million (US$2.93 million) and is expected to create high-end fastener production value of about NT$1 billion within three years, according to the Taiwan Economic News. The venture will be 20% to 30% subsidized by the Ministry of Economic Affairs (MOEA) and get relevant technology support from the ministry.
San Shing vice president Wu Chung-yi, also the chairman of Taiwan Industrial Fastener Institute (TIFI), estimated that orders for Taiwan-made fasteners would grow about 10% next year. Wu said that the scheduled venture would tap the special-utility fastener business, which can generate lucrative profits and help upgrade the island�s already mature fastener industry. �2004 FastenerNews.com