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The fastener manufacturer, Tycoons, invested NTD3 billion in setting up a new steel plant in Thailand, which is expected to be completed in August. President Kenny Huang said, “Although the steel market as a whole is not in a good condition, the performance of Tycoons in the second half of 2014 will be definitely good.”

 

Huang said that the subsidiary in Thailand cooperating with the new steel plant will expand its business to cover steel rolling and wire drawing. The manufacturing procedure is processed by heat treating furnaces. Such advanced technology can reduce costs effectively from heating steel billets to wire rods and to shipment and economical and energy-saving warehousing. The manufacturing cost per ton can be reduced by 20% substantially increasing the competitiveness. Huang added that the new plant will start to operate in August. Then, the procedure from steel refining to fastener production can be completed in one line. In the second half of 2014, the steel market will be still difficult, however, “the situation for Tycoons will be definite good.”

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