SOURCE: TAITRA

May 09, 2016 23:10 ET

Fourth Taiwan International Fastener Show Wraps Up in Success

New High Growth in International Buyers Firmly Solidifies Standing as the Third Largest Worldwide Professional Fastener Show

TAIPEI, TAIWAN--(Marketwired - May 9, 2016) - The 2016 Taiwan International Fastener Show, which met with enthusiastic attendance from fastener companies and worldwide buyers, wrapped up successfully on April 13. The three-day show attracted 1,996 international buyers from 75 countries and a total of 28,586 visits.

Taiwan External Trade Development Council (TAITRA) President Peter Huang stated that the Taiwan International Fastener Show has been held for the fourth time and companies and buyers have set new records -- a total of 402 companies attended the show, a 15-percent increase since last year, and used 1,002 booths, an increase of 18 percent.

This year's show was collectively hosted by the Bureau of Foreign Trade under the Ministry of Economic Affairs, the Kaohsiung City Government, the Taiwan External Trade Development Council (TAITRA) and the Taiwan Industrial Fasteners Institute (TIFI). The fourth Taiwan International Fastener Show is also the largest in Taiwan.

Taiwan's fasteners usually target industrial and automobile sectors overseas, though in the past decade, the industry has been actively developing its standing in high-value markets such as aerospace, medical care and railroads.

This year's show has seen a record performance again: Apart from the growth in the show's scale, the number of visiting international buyers has also risen by 13.7 percent. At least 90 percent of buyers were satisfied with this year's event. Among those who were satisfied with the overall quality of the entire show, Wurth Group Executive Vice President Marc Strandquist stated that the group aims to expand procurement in Taiwan in its business turnover by 2020, and hopes to see multiplied growth. His statements show the event has become an international fastener industry indicator and business procurement platform.

Participating companies in this year's show and international buyers have all expressed satisfaction with the show's quality and quantity, and profited from enthusiastic talks during the procurement sessions.

This year's top 10 buyers were China, Japan, the U.S., India, Germany, Malaysia, Vietnam, Italy, South Korea and the United Kingdom. Taiwan's fasteners are mainly exported to markets in the U.S. and Europe, topping total export value at 80 percent.

Advantages such as Taiwan's competitive prices have also gained the favor of emerging markets, such as India and Turkey.

Taiwan's fastener companies stress their "customized" services. One of the four largest aerospace engine fastener producers and a major supplier for GE, the National Aerospace Fasteners Corporation, actively promoted its aerospace technology applications for the automobile and industrial sectors at the show. It has also commenced talks with a Japanese thermal power corporation to produce high-temperature resistant fasteners. Chun Zu's die spotting machine was also popular among buyers. Boltun Corporation stated that domestic companies have seen a competitive edge with more sophisticated fastener processing technology.

This year's show has stabilized existing markets and has opened up the possibility for new prospective clients, which will not only create more business ventures for Taiwan's fastener companies, but also increase the industry's development.

A 2016 fastener industry leader summit was held during the show's first day, featuring a strong team of speakers. World experts in the field were in attendance, including the European Fastener Distributor Association's (EFDA) Dr. Volker Lederer, the U.S.-based National Fastener Distributors Association's Mr. Marc Strandquist, Italy-based UDIB's Dr. Gian Marco Dal Pane and TIFI Chairman Chang Tu-huo. Industry leaders have shared their opinions on international fastener trends and their views on tackling future challenges. The summit also saw the attendance of over 300 representatives in the fastener industry, including from Taiwan, the U.S., Germany, Italy, the United Kingdom, Canada, India, Indonesia, China, Hong Kong, South Korea and Malaysia. The summit was also broadcast live, attracting at least 3,199 viewers.

During the show, the hosting organizations also invited heavyweight buyers from the U.S., Canada, Germany, Japan and Italy, as well as groups from Italy and India. Among them were 34 companies boasting over US$100 million in sales.

TAITRA also set up 53 heavyweight buyers, such as FLEX-N-GATE, KELLER & KALMBACH, YANFENG GLOBAL AUTOMOTIVE INTERIORS, THEO FOERCH, FASTENAL CANADA, for 202 one-to-one procurement sessions.

After the three-day show, many of the buyers also visited Gangshan, a major fastener hub in Taiwan, and toured Taiwanese suppliers' factories as well. The show exhibited its most critical competitive aspect in its proximity to industrial clusters in Luchu and Gangshan -- just 30 minutes by car -- where over 700 fastener companies are based, making it a pivotal opportunity for potential sales.

The show has again gathered domestic and international fastener indicators, showing the world Taiwan's solid competitiveness in fastener production and creation. For more information, refer to the Taiwan International Fastener Show's website at www.FastenerTaiwan.com, or "like" its Facebook page at www.facebook.com/FastenerTaiwan.

About TAITRA
Founded in 1970 to promote foreign trade, the Taiwan External Trade Development Council (TAITRA) is the foremost non-profit trade promotion organization in Taiwan.

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