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Spec Products Debuts on Emerging Stock Board with Potential to be the First Smart Manufacturing Plant of Fasteners

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2024-03-06

Automotive fastener company Spec Products Corp. debuted February 22 on the Emerging Stock Board (ESB) of Taipei Exchange (TPEx). Its plant located in Sinji Industrial Park in Tainan City is expected to be in partial mass production by the end of this year, and aims to be the first screw factory in Taiwan to enter into smart manufacturing. The second phase of its plant in Rende District will be launched later, and the goal is to increase self-manufacturing rate from 15% to 30% within 2 to 3 years.

Spec Products’major team members used to work in San Shing Fastech which is a long-established player in the fastener industry. Spec Products started with trade, and ten years ago it tapped into manufacturing in response to automotive manufacturers' request of increasing the self-manufacturing capability. As a T2 and T3 manufacturer, Spec Products’ automotive customers include brands from Europe, the U.S., Japan, and so on.

The company has already acquired a 13,408 m2 land in Sinji Industrial Park to drive the operation and development in the next 5 to 10 years. The Sinji plant now under construction has a land area about 5,950 m2 and a floor area about 6,942 to 7,272 m2, and will introduce smart manufacturing where raw wire rods go in and come out as finished fastener products. This plant will also use smart transportation vehicles. The cost of the land in Sinji Industrial Park is about NT$240 million, and the cost of building the Sinji plant is about NT$200 million. The plant is expected to be fully operational next year or the year after next, but it is already testing machines and has recruited almost all the manpower it needs.

President Mr. Hung-Chen Chang said, "Smart manufacturing is a new attempt for conventional industries. We mainly produce screws of special specifications. We produce small-volume and diverse products which are suited for smart manufacturing. On top of that, the Sinji plant is located near leading semiconductor companies, which makes it harder for us to recruit manpower, so if we do not turn to smart manufacturing, it will be extremely difficult to only rely on manpower to expand production. We will also introduce AI to manage production. In addition, the production and profits of fasteners mainly depend on the quality of dies, but our operators of the first generation are already 60 years old, and therefore, we hope to use AI technology to assist in developing and designing dies, and retain our technical know-how.

友鋮

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興櫃

新吉工業區

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Spec Products Corp.

automotive fasteners

emerging stock board

fastener manufacturing

Sinji Industrial Park

new plant