Adhesives manufacturer Nan Pao Resins Chemical Co Ltd (南寶) yesterday said customer orders are expected to grow continuously in the second half of the year after its revenue in the first half increased 6.91 percent annually to NT$8.1 billion (US$260.43 million).
In a bid to meet increasing orders, the company is building a plant in China’s Guangdong Province, which is expected to start operations in 2022, a company official told the Taipei Times by telephone.
Shoe adhesives accounted for about 42 percent of sales in the first six months, while special adhesives, which are mainly used for diapers, contributed about 29 percent, said the official, who asked not to be named.
The company is also optimistic about sales of optical display adhesives in the next few months after posting double-digit percentage growth in the first half, he said.
“We are cautiously optimistic about sales for this year, as prices of raw materials remained steady and the price of Brent crude has remained low,” he said.
The output of water-based nano-resins and carbon-fiber resins, which are used to make electronics, remains small, but shows great potential, the official said.
As more companies move factories from China to Southeast Asia, the sales contribution from Southeast Asia is expected to increase in the second half, he said.
Sales contribution from the region rose 4 percentage points to 32 percent in the first quarter, with Vietnam increasing 3 percentage points to 22 percent, company data showed.
Nan Pao shares yesterday closed up 0.86 percent at NT$176.5 in Taipei trading.
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