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OFCO Sees Full Order Book and Increases 20% Capacity
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2022-06-23
     OFCO's order book is full to the yearend and its average product price continues to rise. The company expects business to grow quarter by quarter. To cope with EU's anti-dumping measures against China, the company increased 20% capacity to cater to a strong demand. It grossed NTD 1.9 billion in the first 5 months of 2022 with an annual growth rate of 41.6%, a record result compared to the same period last year.
 
     OFCO optimizes the use of materials and the benefits have gradually manifested in production cost. It imports steel billets and integrates up and downstream manufacturing to reduce production cost. The fastener profit margin will stay above 30% and steadily go up.
 
     OFCO said it didn't have the best price for fasteners previously and its profits mainly came from the subsidiary. However, now the increased fastener volume and price largely contribute to OFCO's fastener unit. To cope with increased demand, OFCO has made plans to increase monthly capacity which is expected to go from 2,500 tons to 3,000 tons by yearend.
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