10/24/2012 5:45:00 PM
NEWS BRIEFS
Taiwan’s San Shing Reports Q3 Revenue Drop
Steel nut manufacturer San Shing of Taiwan announced sales dropped 11.4% to TWD 1.26 billion (US$43.12 million) in the third quarter of 2012, SteelGuru reports. Likewise, the company’s gross profit declined during the period.
“Due to the weak market demand from the EU and US markets, most of its customers have tried to reduce their stocks level, causing San Shing’s sales decrease in the third quarter and making its capacity utilization rate under 80%,” according to SteelGuru.
Further market weakness is expected in the fourth quarter, with San Shing forecasting a continued sales decline. ©2012 GlobalFastenerNews.com
Related Stories:
• EU Amends Antidumping Tariffs on Chinese Fasteners
• Taiwanese Fastener Suppliers Score New Contracts
Related Links:
Share: