By Kuo Chia-erh / Staff reporter
Metal components supplier Tong Ming Enterprise Co Ltd (東明) yesterday said it plans to tap into European markets next year, as anti-dumping duties are to expire this year.
“Tong Ming is to expand business in Europe by launching products with higher gross margin,” company spokeswoman Ko Weng-ling (柯文玲) told an investors’ conference in Taipei.
With EU anti-dumping duties on some Chinese stainless steel products to expire this year, shipments of metal components to Europe are expected to increase in the near future, Ko said.
The company, headquartered in China’s Zhejiang Province, mainly manufactures stainless steel fasteners and steel wires for global customers, with one subsidiary in Kaohsiung and 33 in China.
The Kaohsiung unit serves as Tong Ming’s innovation center for its high-added-value products, including steel components used for building solar power plants and planes.
“We have received orders from some companies based in northern Europe and those high-margin products would be used for offshore wind power turbines,” Ko told reporters after the conference.
With production volume this year being relatively flat compared to last year, Tong Ming is working to manufacture more high-margin steel components to raise gross margin, Ko added.
Tong Ming is one of the leading suppliers in China’s steel fastener market, with an annual capacity of more than 50,000 tonnes, according to its Web site. (…)
