ASIAN NEWS
China fastener demand to reach RMB 200bn by 2015
According to a report from the Qianzhan Industry Institute, quoted by
Chinafastener.info, P.R. China’s consumption of industrial fasteners will reach the equivalent of 24.5 billion euros by 2015.
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growing demand for our joining technology solutions in the Indian market and the entire Asia Pacific region.” The plant will service customers from the aerospace, automotive, railway, shipbuilding, chemical, infrastructure and other industries across India and Asia-Pacific. Earlier in the month NORMA signed an agreement to acquire
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85% of the shares in the manufacturer of thermoplastic joining elements Chien Jin Plastic Sdn Bhd based 200km north of Kuala Lumpur, Malaysia. Trading for twenty years, the company specialises in joining
elements for plastic and iron pipe systems, in particular for domestic water distribution and irrigation systems. In its last fiscal year Chien Jin Plastic generated sales of more than 7 million euros. The acquisition is seen by NORMA as a milestone in
expanding its business activities into Southeast Asia, extending its product range in infrastructure and distribution network in this dynamically growing region. NORMA Group has been present in the region since 2004 with locations in Singapore, Malaysia, Thailand, Vietnam, Indonesia and the Philippines.
he report estimated that in 2010 there were 2,280 Chinese fastener companies with annual sales greater than RMB 5 million (c 630 000 euros), employing a total of more than 200,000 people. Total sales for
these companies were estimated at RMB 108.45 billion (c 13 billion euros) generating profits of RMB 5.75 billion.
NORMA increases Asian activities
NORMA Group officially opened its new 6,500 square metre production plant in Talegaon near Pune, India, on 27th
October.
ohn Stephenson, COO and president Asia Pacific, said: “We have been present in India for many years with our business evolving greatly. The opening of this facility is a logical step for us in adjusting our capacities to the
Jiaxing Show features 150 exhibitors
The second Fastener Expo Jiaxing, staged for three days from 20th
October at the Jiaxing International
Exhibition Center, featured 150 exhibitors occupying 200 booths,
Chinafastener.com reported.
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xhibitor numbers increased from 119 in 2011. The China Chamber of Commerce for Import & Export of Machinery & Electronic Products (CCCME) and The People’s Government of Jiaxing sponsored the show.
It was organised by Shanghai Ebseek Exhibition Co Ltd on behalf of the Zhejiang Industrial Fastener Institute, Bureau of Foreign Economic Trade of Jiaxing and Jiaxing Fastener Import and Export Enterprises Association. Together with Ningbo and Wenzhou, Jiaxing is one of China’s
three largest fastener manufacturing bases, in total claiming some 4,000 fastener and fastener related manufacturers and representing around 20% of China’s total fastener exports. The organisers placed a strong emphasis on attracting overseas
visitors, including promotional visits to Japan, Taiwan, Russia, Thailand and the USA.
Chinafastener.com reports that overseas online registrants on the eve of the show’s opening totalled 1,052 from North America, Europe, Russia and across Asia.
Gem-Year Industry reports H1 loss
According to a report from Fastener World Magazine, Gem-Year Industry Co Ltd announced a preliminary estimate of a first half 2012 loss of RMB 73million (c 9 million euros).
resulting in a sharp decline in sales of the main fasteners used in high speed rail construction. Rail fastener prospects for 2013 appear far more positive.
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According to announcements made by China Railway Group in Beijing in November, China will spend more than RMB 600 billion (c 75 billion euros) on rail infrastructure next year, with 50% of the investment dedicated to high-speed projects. The official Xinhua news agency also reported Beijing vice mayor Chen Gang as saying the city would spend RMB 100 bilion on an additional 200 kilometers of line for its subway network.
he loss compared with a RMB 105 million profit for the same period in 2011. The company said that the substantial financial loss was due to the postponement and cancellation of high speed rail projects in China -
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