Tycoon Group to Open $10m China Fastener Plant

Jason Sandefur

Tycoon Group Enterprise Co. Ltd. will invest $10 million to open a factory in China to produce fasteners for cars and construction and industrial engineering projects built for Chinese consumers. \
According to Taiwan Economic News, Tycoon reportedly made the decision because of huge profits from the company”s first China investment. Tycoon is the first Taiwanese fastener supplier operating facilities in China to pinpoint the mainland”s domestic market.
The new facility will be designed to manufacture 24,000 metric tons of fasteners annual, with a capacity value of about NT$1.44 billion (US$46 million). Tycoon already operates a $5.9 million facility with capacity of 3,000 metric tons of fasteners per year.
Tycoon is an industrial fastener supplier with annual revenue of about NT$10 billion (US$322.5 million). �2005 FastenerNews.com