cens logo

Re-Dai Chairman Elected New Head of THTMA

New chairman will set up new committees to help insiders ride on e-commerce trend

Dec 21, 2016 | By Steve Chuang

S.C. Yu (right) received the chairmanship seal from the ex-chairman Arthur Wu (left) under the witness of THTMA’s honorary chairman Mark Lin (center) in mid-September 2016 (photo courtesy of EDN).S.C. Yu (right) received the chairmanship seal from the ex-chairman Arthur Wu (left) under the witness of THTMA’s honorary chairman Mark Lin (center) in mid-September 2016 (photo courtesy of EDN).

At the THTMA (Taiwan Hand Tool Manufacturers' Association) annual general meeting held in mid-September, 2016, S.C. Yu, chairman of Re-Dai Precision Tools Co., Ltd., a high-profile manufacturer of hand tools, was elected the 14th chairman of the association, to continue to lead the industry to sustainable development.

Meanwhile, chairman S.D. Huang of Allprofessional Mfg. Co., Ltd., a supplier of snips and pliers, takes office as new deputy chairman of THTMA.

As world's second-largest exporter of hand tools in terms of value, Taiwan has enjoyed a solid reputation as the “Kingdom of Hand Tools” among global professional buyers for years. Presently, over 1,000 companies and 14,000 workers on the island are involved in hand tool production, with over 95 percent of the industry's annual output being exported. For the moment, THTMA has a total of 464 members for the moment and serves as the growth locomotive for the industry.

Also notable is that Taiwan's central region covering Taichung, Changhua and Nantou is home to a majority of local hand tool makers, with over 70 percent of the island's overall hand-tool output generated there. The high industrial cluster density makes it one of the mainstay industries contributing to local economy.

In the face of the increasingly competitive global market, Yu is aware of the importance of industrial upgrading using advanced technology and in tune with market trends, which he believes is vital for the industry to maintain its global competitiveness.

Restructuring of Committees for Better Functions
In that logic, Yu announced a committee restructuring plan at the annual general meeting. The new chairman stated that while expanding functions of THTMA's exiting 7 committees to provide more proper services to members looking to boost their brand awareness, the association will transform its publishing committee into an information committee to help local hand tool makers adapt to global trends for e-commerce and online shopping.

Moreover, Yu continued, THTMA will set up two new committees engaged in promotion of the so-called Manufacturing Productivity 4.0, a Taiwanese government initiative designed to upgrade manufacturing from automation to smart production, throughout the industry; and in the development of modern public relations for members, respectively. The respective objectives of the new ones, he stressed, are to step up industrial upgrading and strengthen promotion of Taiwan-made hand tools in the global market.

Through the new committees, Yu emphasized that THTMA aims to aid insiders to apply new manufacturing processes and various state-of-the-art technologies, including Internet of Things, cloud computing and big data, in production to achieve automation based on the concept of Taiwan's Manufacturing Productivity 4.0 Initiative.

Regarding global marketing, Yu indicated that THTMA will assist members to establish an online platform to promote their products more effectively and efficiently amid a rising popularity of e-commerce all around the world; in the meantime, to help enhance exchanges with foreign partners and buyers and seize business opportunities overseas, particularly those brought by China's “One Belt, One Road” initiative.

Research and development of new business models for Taiwanese hand tool makers in the global market are also on the new chairman's worklist in his three-year tenure. Obviously having a well-thought-out plan, Yu noted that he would like to take advantage of THTMA's influence to integrate resources of local makers to set up a joint sale and logistic base, mainly inspired by the logistic centers run by Brighton-Best International in the U.S., originally the country's largest screw distributor and now acquired by a subsidiary of Taiwan-based Ta Chen International Inc., a stainless steel product maker.

Most insiders agree that the abovementioned acquisition has proved to be successful, for it results in a sustainable, lucrative business model that has generated considers benefits to players involved. Through the acquisition, Ta Chen turns the eight logistic centers owned by Brighton-Best International nationwide into virtual-cum-physical stores, which accept online purchase orders for, sell and deliver over 10,000 kinds of stainless steel products and industrial supplies outsourced from Ta Chen and other globally known suppliers in different sectors all over the world, including NAS of the U.S., POSCO of South Korea, Outokumpo of Finland, Arcelor of Belgium and ThyssenKrupp of Germany. Such a business model not just enables the Taiwanese stainless steel product supplier to expand outlets of its products and fuel revenue growth, but allows Brighton-Best International to broaden its product mix to attract more customers.

On another front, a taskforce engaged in establishing a hand tool museum has just been set up in THTMA, noted Yu, who added that this museum will serve as a “dialogue platform” between the industry and the market, with an aim to bolster sustainable development of the hand-tool industry in Taiwan, attract young workers and incubate talent as needed in the sector, and provide insiders incentives to come up with new business models in the near future.

Robust Growth Expected
Despite a weak start in Q1, 2016, output value of Taiwan's hand tool industry is expected to show a robust growth for the whole year.

According to data issued by Metal Industry Research & Development Centre (MIRDC), a Taiwanese government-funded R&D and market research institute, the industry's output for the first quarter stood at NT$14.77 billion, down 6.1 percent from a quarter earlier, or 14.5 percent year on year, mainly dampened by sharply shrinking domestic market demand, which reached only NT$1.3 billion for a drastic decline of 38.5 percent compared to the final quarter of 2015, or 58.8 percent from a year earlier. Meanwhile, exports and imports amounted to NT$14.58 billion and NT$1.11 billion, respectively, down 2.1 percent and 4.4 percent year on year.

However, MIRDC still holds conservative optimism towards the industry's prospect in the year for a couple of reasons, mainly China's dwindling growth momentum in overall exports, which, in turn, will likely allow Taiwanese hand tool makers to see a flood of returning orders from foreign customers in the short term. In the scenario, MIRDC forecasts that the industry will finish 2016 with output value of NT$68 billion compared to NT$65.53 billion in 2015, with exports to increase to NT$63 billion from NT$61.91 billion.

Output value of Taiwan’s hand tool industry is expected to continue to pick up in 2016.Output value of Taiwan’s hand tool industry is expected to continue to pick up in 2016.

Output Value of Taiwan's Hand Tool Industry in 2016
Period
2015
2016
2015
2016
(E)
2017
(F)
YoY Growth Rate
Q1
Q2
Q3
Q4
Q1
QoQ Growth Rate
YoY Growth Rate
Output
17.27
16.20
16.33
15.73
14.77
-6.1%
-14.5%
65.53
68.00
69.00
3.8%
Import
1.13
1.08
1.05
1.05
1.11
5.3%
-2.1%
4.31
4.50
4.70
4.4%
Export
15.25
15.46
16.54
14.67
14.58
-0.6%
-4.4%
61.91
63.00
65.00
1.8%
Domestic Market Demand
3.15
1.81
0.85
2.11
1.30
-38.5%
-58.8%
7.93
9.50
8.70
19.9%
Value Unit: NT$ Billion
Source: ITIS-MII, Metal Industry Research & Development Centre


Industry In-Focus

Photo credit: UDN

Machine tool orders fall, signal concerns

May 17, 2022

Taiwan Machine Tool and Accessory Builders' Association Hsu Wen-hsien said on Monday that prices for international steel, nickel, copper, and other raw materials have soared, coupled with the uncertainty of the Russian-Ukrainian war, domestic machine tool factories' have seen a recent decrease of orders around 20%. The association has decided to adjust the export forecast of machine tools this ye...


Auto parts suppliers brace for order surge post lockdowns</h2>

Auto parts suppliers brace for order surge post lockdowns

May 16, 2022

Auto parts and components were affected by the COVID-prompted lockdowns in various Chinese cities, leading to expected losses in revenue and profit in the first quarter. However, after May, various regions have gradually reopened and resumed work, and auto factories have stepped up the pace of delivering orders. Laster Tech Group and Yingli-KY are among the suppliers optimistic about the performa...


EV-related revenue to bolster new growth records: Chroma Corp.</h2>

EV-related revenue to bolster new growth records: Chroma Corp.

Apr 29, 2022

Measuring instrument maker Chroma Corporation reported significant growth due to the company's increased investment in electric vehicle applications at its earnings call and estimated that combined revenue trends for turnkey applications could remake company history in the future. Chroma Corp. said that 54% of Q1 revenue came from measuring instruments and automated inspection equipment, follo...



Industry Reports

Photo credit: UDN/Reuters

Automotive makers look at solar energy sector for new opportunities

May 09, 2022

Hotai Group has been actively developing clean energy solutions, with its subsidiary He Jun Energy as a primary focus. The capacity of solar energy installations this year is expected to reach 50,000KW, and the profit and loss are expected to be even in the second year. With carbon rights becoming the future trend, the development of the solar energy business has become at the forefront for the a...


Photo credit: EDN

Chip shortages continue to hamper automotive imports

May 04, 2022

With chip shortages still hampering the global automotive sector, major car manufacturers expect a shortage of cars, leading to significantly decreasing imported numbers. The total sales volume in the market is currently at 35,200 units, an annual decrease of 7%. The TOYOTA and LEXUS brands under Hotai Motors have reached 12,500 units, the MITSUBISHI and CMC brands of China Motor Corporation ...


Photo credit: UDN/AP

Delayed container ship production could worsen shipping in 2023

May 03, 2022

The new regulations on shipping carbon emissions are set to come into effect next year, and with the number of global container ships over 20 years old will reach 8.2%, experts warn there will be a wave of elimination of old ships starting as early as this year. However, the supply and production of these ships have been hampered by China's strict zero-COVID policy and the Russian-Ukrainian wa...



Supplier News

Young Shang thrives beyond obstacles</h2>

Young Shang thrives beyond obstacles

Apr 28, 2022

OVERVIEW The spread of the novel coronavirus (SARS-CoV-2) has made a deep impact across all sectors. As health authorities and scientists around the world work towards identifying solutions to bring the situation under control, demand for Food Packaging solution has increased dramatically as consumers attempted to stay away from public gatherings. This has led to let food producers requiring m...

YOUNG SHANG PLASTIC INDUSTRY CO., LTD.


Tair Wang's zinc die-casting and CNC OEM products. (Photo courtesy of Tair Wang)

Tair Wang offers high-quality zinc die casting products for OEM and low-volume high-mix needs

Apr 15, 2022

Founded in 1978, Tair Wang Enterprise Co., Ltd. is a zinc die-casting manufacturer with ISO 9001 quality certifications. With an excellent reputation among domestic and global buyers as a professional OEM manufacturer, Tair Wang has actively expanded its businesses abroad in the past decade by providing high-quality products and services for its clients. General Manager Lawrence Lee said that...

TAIR WANG ENTERPRISE CO., LTD.


ALTA-PRO CO., LTD. </h2><p class='subtitle'> Air spray guns, air paint guns, airless spray gun and related accessories</p>

ALTA-PRO CO., LTD.

Air spray guns, air paint guns, airless spray gun and related accessories

Apr 06, 2022

After over 20 years of devotion to developing and making air spray guns and related accessories, ALTA-PRO Co., Ltd. is well recognized as a globally prestigious supplier in Taiwan, offering HP series spray guns, HVLP (high volume low pressure) spray guns, LVLP (low volume low pressure) spray guns, airless spray guns, automatic guns, dry blow guns & air brushes, and related accessories as nozzles,...

ALTA-PRO CO., LTD.



Insiders' Views

Nan Hoang Traffic Instrument Co., Ltd.</h2><p class='subtitle'>Taiwan First brakes Technology Co., Ltd. </p>

Nan Hoang Traffic Instrument Co., Ltd.

Taiwan First brakes Technology Co., Ltd.

Mar 04, 2021

Nan Hoang Traffic Instrument Co., Ltd is one of the major manufacturers of automobile friction materials in Taiwan and globally. Chairman Austin Cheng has implemented the double-arrow strategy this year - own brand of “YangPo” is adopted to focus on global channels while the “NHC brand focuses on improving market shares in global markets, such as Europe, America, Asia, Australia, and the Middle E...

NAN HOANG TRAFFIC INSTRUMENT CO., LTD.


OmniEyes CEO and Co-Founder Chun-Ting Chou. (Photo courtesy of OmniEyes)

OmniEyes' AI Technology Paves the Way for Traditional Industries' Digital Transition

Dec 15, 2020

The COVID-19 pandemic has accelerated the industries' timeline for implementing digital transformation. However, the how's and what's of applying new technologies and improving the added value to existing products and services can be daunting. Three professors from the National Taiwan University College of Electrical Engineering and Computer Science founded the startup company "OmniEyes," basi...


Caption: Pictured from front row, third right, Changhua County Government Economic Affairs Department Director Liu Yu-ping, County Magistrate Wang Huei-mei, Secretary Chen Bo-tsun pose in front of the exhibition booth. (Photo provided by CHCIA)

Changhua County Government Shores up Biz-Matching to Global Buyers

Nov 18, 2019

■Yang Feng-Chun In a bid to assist manufacturers in Changhua County to expand their market reach overseas against severe competition in the globalized market, Changhua County Government has been an active player in pushing for a makeover and innovation of its local small and medium-sized enterprises. This is done in hopes of establishing stronger connection with international markets. An ex...



Exhibition Highlights

 INTERMACH & SUBCON Thailand 2022 Prepared to promote business partnerships and to promote Thailand to be an industrial center towards sustainable development</h2>

INTERMACH & SUBCON Thailand 2022 Prepared to promote business partnerships and to promote Thailand to be an industrial center towards sustainable development

May 19, 2022

After the opening of the Intermach-Subcon Thailand 2022 Machinery Technology and Subcontracting Industry Exhibition For the procurement of leading ASEAN parts held at the Bangkok International Trade and Exhibition Centre (BITEC) today (18 May 2022), Ms. Duangjai Asawachintachit,, Secretary General of the Thailand Board of Investment (BOI), stated that the board recognises the importance of develo...


Photo credit: Messe Frankfurt

Messe Frankfurt reschedules CAPAS 2022 and Auto Maintenance & Repair Expo 2022

May 06, 2022

In view of the evolving pandemic situation in China, the Government has escalated a number of COVID-19 prevention and control measures. To align with these efforts, Messe Frankfurt is rescheduling two of its Mobility & Logistics fairs in the country. CAPAS Chengdu will move to 18 – 20 August 2022, instead of the original timeslot (19 – 21 May 2022). In addition, the Auto Maintenance and Repair...


2022 Taipei AMPA four-day event attracted many buyers and attendees to the in-person show grounds. Photo credit: TAITRA

Taipei AMPA an astounding success – Taiwan is Back in Business!

Apr 27, 2022

The 4-day 2022 Taipei AMPA and Autotronics Taipei physical show closed out on a high note, with visitors coming from the automotive industry, auto electronics department, as well as other branches in connection with the automobile market. Nearly 600 exhibitors came to the physical show, and over 1300 booths were occupied. Combined with nearly 190 exhibitors on the online show AMPA DigitalGo, t...