Molding components maker Concraft Holding Co Ltd (康控) yesterday said it has successfully tapped into the auto parts business, gaining orders from several European car brands.
“We have been working on the research and development of auto parts since 2012,” Concraft spokesman Joe Huang (黃翹生) said at an earnings conference. “Compared with our existing products, car components enjoy higher gross margins.”
Huang said Concraft has inked contracts with several European clients and is to begin mass production of its automotive components next year.
He declined to name the clients.
Concraft is scheduled to debut its shares on the Taiwan Stock Exchange next month.
MOLDING EXPERTISE
The company, headquartered in New Taipei City, distributes precision plastic molding and metal stamping components to clients worldwide, and plans to produce a wide range of customized automotive parts, including sensors, in-car cameras and fuel injectors.
Known for its insert molding technology, the company’s main clients include Merry Electronics Co Ltd (美律) and Samsung Electronics Co.
Company data showed that connectors and acoustic components used in speakers and receivers remain its two principal drivers of sales, accounting for 38 percent and 46 percent of its total revenue last year respectively.
In the first nine months of this year, the company’s cumulative revenue fell 10.4 percent to NT$1.61 billion (US$50.9 million) from the same period last year, but Huang said that the company is cautiously optimistic about its sales outlook, and forecast whole-year sales to be flat from last year’s NT$2.42 billion.
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