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

Foxconn Engages European Auto Parts Talks for Tier 1 and EV Market Entry </h2>

Foxconn Engages European Auto Parts Talks for Tier 1 and EV Market Entry

Oct 20, 2020

Foxconn is looking to explore cooperation with European tier 1 auto parts suppliers in developing 3D auto-use curved glass covers. The electronics manufacturer is also reportedly engaging in talks with European auto firms to make curved, one-piece system consoles and dashboards. In a bid to diversify its product line, Foxconn's plans to enter the lucrative auto parts industry began with provid...


China's Strong Auto Market to Buoy Taiwan's Related Industries</h2>

China's Strong Auto Market to Buoy Taiwan's Related Industries

Oct 19, 2020

Taiwan's auto parts market has seen positive impacts as the Chinese automotive market continues to grow in its sixth consecutive month. Hotai Motors and Yulon Nissan Motor are the two significant firms enjoying the leverage. The island's related industries are benefiting from the strong performance of China's automotive market. Industry members say as long as competitive Taiwanese firms mainta...


Foundry Supply in a Pickle Amid Surging Demand Due to Pandemic and Restrictions</h2>

Foundry Supply in a Pickle Amid Surging Demand Due to Pandemic and Restrictions

Oct 19, 2020

Industry experts expect to see challenging times ahead for production in the foundry sector, forecasting that the current situation will not let up in the short-term and warns of unbalanced supply-demand next year. During the pre-pandemic era, IC design firms say clients usually made urgent orders to avoid having to manage inventory. Yet, considering limited foundry production volume, clients ...



Industry Reports

Foxconn Engages European Auto Parts Talks for Tier 1 and EV Market Entry </h2>

Foxconn Engages European Auto Parts Talks for Tier 1 and EV Market Entry

Oct 20, 2020

Foxconn is looking to explore cooperation with European tier 1 auto parts suppliers in developing 3D auto-use curved glass covers. The electronics manufacturer is also reportedly engaging in talks with European auto firms to make curved, one-piece system consoles and dashboards. In a bid to diversify its product line, Foxconn's plans to enter the lucrative auto parts industry began with provid...


(File cabinets, photo courtesy of Chyn Fuh Enterprise Co., Ltd.)

Taiwan's Furniture Industry Amid the COVID-19 Pandemic

Oct 16, 2020

The COVID-19 pandemic has deeply affected global and Taiwan's political and economic landscapes. Unlike some industries, the furniture sector did not escape unscathed, facing a squeeze from management and costs. While Taiwan continues to implement a stable, successful outbreak response, the industry has also misjudged the economic downturn duration. The furniture industry has yet to fully recover...


2020 Energy Vision Summit for Green Energy to Kick off in Nov.</h2>

2020 Energy Vision Summit for Green Energy to Kick off in Nov.

Oct 14, 2020

The Taiwanese government has pledged to lead the effort in further developing the sustainable green economy, which is among the sectors highlighted in the Tsai administration's "5+2 Innovative Industries Initiative." Economic Daily News is hosting the "2020 Energy Vision Summit - Green Energy 2.0" on November 11. As one of the government's core policies, improving the island's energy self-suff...



Supplier News

(Electric Vehicle-Photo courtesy of CENS)

Microtest: Precise, Reliable, and Always Improving

Oct 16, 2020

Eyes Stake in 5G Industry with Impedance Analyzer 6632 With greater demand for electronics and manufacturers' need for more precise and diverse applications than before, testing equipment that ensures the reliability, safety, and quality of parts are in hot demand. Founded in 1993, Microtest Corp. is a professional maker and developer of high precision and automatic testing and measurement ins...


(Photo courtesy of Ho Shuan Enterprise Co., Ltd.)

Ho Shuan is Your Choice for Educational Furniture and More

Oct 16, 2020

Insisting that its customers are always a top priority, Ho Shuan Enterprise Co., Ltd.'s R&D team provides the best educational furniture and peripherals, computer tables, and desks to meet all customer requirements. Established in 1986, Ho Shuan has experienced recent sluggish local market performance, but eventually rebounded and came back better than ever. Despite difficulties, the firm neve...

HO SHUAN ENTERPRISE CO., LTD.


(S16-M01 Short Swivel-Handle Cabinet, photo courtesy of Chyn Fuh Enterprise)

Chyn Fuh: A Quality OA Metal Furniture Maker

Oct 16, 2020

Chyn Fuh Enterprise, founded in 1993, entered the market with the sole aim of offering other OA metal furniture options for customers. Since its inception, Chyn Fuh has focused on designing and producing OA metal furniture, providing various office use products, including file cabinets, storage cabinets, office desks, and different assistive metal products. Chyn Fuh partook in many government ...

CHYN FUH ENTERPRISE CO., LTD.



Insiders' Views

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...


Paul Master offers high-quality chassis and engines parts for passenger cars, trucks, and industrial trucks. (Photo courtesy of Paul Master)

Paul Master Builds Reputation with Auto Chassis and Engine Parts

Nov 18, 2019

Founded in 1980, Paul Master Auto Parts Co. is headquartered in Taiwan, a professional manufacturer of chassis and engines parts for passenger cars, trucks, and industrial trucks including forklifts. General Manager Terry Liang said the company has its own professional design department, which provides customized products and specifications for global buyers, including automobile steering and...

PAUL MASTER AUTO PARTS CO.


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.

Sep 04, 2019

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...



Exhibition Highlights

Gearing up for Post-COVID Recovery, THS Coming Soon in October</h2>

Gearing up for Post-COVID Recovery, THS Coming Soon in October

Oct 07, 2020

As the only hardware and hand tools trade show taking place this year globally, the three-day Taiwan Hardware Show (THS) will soon kick off on 13th October at the Taichung International Exhibition Center. Positive industry outlook for the post COVID-19 era has led to over 370 companies signing up as exhibitors, in a bid to gear up for a long-awaited economic recovery and plan the next strategic m...


Stable Development and Popular Fastener Show in China</h2>

Stable Development and Popular Fastener Show in China

Sep 11, 2020

Driven by market prospects, domestic and international exhibitors actively prepare International Fastener Show China in Shanghai on November 3-5, 2020. Suffering from global epidemic and quarantine nearly half year, exhibitions are hot and popular in mainland China. Thousands of visitors join and visit the exhibitions with inquiries, and are eager to know new technology. Domestic and inter...


2020 Medical Taiwan to Host In-Person and Virtual Events</h2>

2020 Medical Taiwan to Host In-Person and Virtual Events

Sep 10, 2020

2020 Medical Taiwan is slated to kick off on Oct. 15 to Oct 17 at Nangang Exhibition Hall 2. Aside from events at the show, show organizer Taiwan External Trade Development Council (TAITRA) is also hosting the “Medical Taiwan Virtual” online edition at the same time due to travel restrictions impacted by the COVID-19 pandemic. The virtual edition will present 200 exhibitors and over 700 medic...