[WRE UPDATE | BUSINESS]
PUBLIC DISPLAYS GOF EXPANSION
BY: E.H. EVANS T
he starting line is the same for everyone when creating a business. It’s a race for both prosperity and survival. T ere’s no momentum to carry you at the beginning, only determination and putting one foot in front of the other. T e diff erences grow wider the longer the race endures – it’s the proverbial ‘tortoise and the hare’
in real life. But there is no ‘winning the race’ or fi nish line when it comes to running a business – with the only requirement often being to outrun your competition. So while ‘slow and steady’ sets your pace, equally important is knowing when the opportunity presents itself to leap ahead. In a recent meeting at the Off shore Technology Conference in Houston, Texas with
Desmond Teo, CEO of Gaylin International Pte Ltd, a heavy-lift sling and rigging gear specialist based in Singapore, one can safely assume that his company is ready to make its move, with company revenues soaring and annual growth rates eclipsing 20% on average over the past seven years. He also proudly announced, after years of preparation in this direction, that Gaylin International is now poised to make a big splash in the marketplace with an initial public off ering on the Singapore Exchange, further raising capital for future expansion. For those who know Gaylin, and more specifi cally Teo, this comes as no surprise, as his pace was set early to achieve this goal. It was all a matter of timing.
Between Gaylin’s Initial Public Offering and Partnership with Kiswire, look for rapid expansion into new markets Gaylin currently employs over 140 people, primarily in Singapore and Vietnam, and is based on two sites in Jurong that cover 320,000 sq ft. Recent growth has also taken their business into Korea, China, and the Middle East. But probably the most signifi cant new market right now for Gaylin, and by far the most strategic, is into neighboring Malaysia. Along with announcing a public capitalization plan, Teo is also excited to share plans of a new plant to be built in Malaysia alongside KISWIRE’s ‘Neptune 2’ facility. Co-locating to mutually benefi t one another, both Gaylin and KISWIRE realize the ultimate benefi ts will trickle down to their customers in terms of productivity and turnaround time as a ‘one-stop’ solution. Gaylin will virtually provide KISWIRE with an ‘in-house’ rigging shop for testing needs, and Gaylin will have immediate access to a signifi cant manufacturer in its own backyard. Neptune is KISWIRE’s own brand name for large diameter wire ropes used widely as anchor
Desmond Teo, CEO of Gaylin International Pte Ltd.
lines and hoist ropes in off shore industries and various mining applications. T e Neptune 2 plant is equipped to manufacture wire rope sections weighing up to 600 metric tons (661 tons) in non-rotating, multi-strand constructions. It is also able to fabricate six-strand wire rope sections weighing up to 300 metric tons (331 tons) and eight-strand sections of 400 metric tons (441 tons). Neptune 2 will have an output capacity of 30,000 metric tons (38,581 tons) per annum. KISWIRE’s existing plant (Neptune 1) can produce up to 25,000 metric tons (27,558 tons) annually. Gaylin recently purchased a 3000 Ton test bed from Taiwan’s Wirop for the new facility co-located in Malaysia to service KISWIRE’s Neptune 2 plant.
74 MAY-JUNE 2012 WIRE ROPE EXCHANGE
aylin International’s CEO Desmond Teo Highlights the Latest Corporate Plans for 2012
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