Jeoutay Liu: Setting Competitive Price and Quality to Face Threats
Founded 30 years ago, Jeoutay Liu Industrial Co., Ltd. is headquartered in Dali, Taichung. With a 9,918 sq. meter factory, it specializes in the production of precision tool sets, (handriven, socket, magnetic, precision) screwdrivers, bits, and auto tools. It adopts direct and indirect trade to achieve 100% export to mature markets like Europe, U.S., and Japan. Currently, it looking forward to Myanmar, Thailand, and other Southeast Asian markets showing great potential and expects to achieve another success in the next 30 years.
Providing Advantageous Quality and Price and Following the Market Trend
Jeoutay Liu shows its competitiveness in the market with reasonable prices. With 30 years of specialty and satisfying services, it has gained trust from customers. Certified by French AFAQ and British UKAS, it also cooperates with the annual audit of ISO9001 to ensure heat treatment, torque, hardness, and surface treatment being compliant with the required standards.
Every month it supplies over 1 million pieces of screw bits and 0.3 million pieces of auto tools with high quality to the market and accepts orders from global OEM and ODM. In terms of the potential of products, the profit generated from auto tools may be higher than that of screw bits as the processing time is longer. However, the specifications for these items have been widely circulated in the market and are not exclusively developed by Jeoutay Liu, so Paul Liu and Neil Lin both said, “ We continue to design and develop new patented products and have already created over 200 items. Moreover, we’ve been authorized to use CAMCAR TORX and TORX plus, which further fortifies our competitiveness in the market.
60% of Jeoutay Liu’s products are exported to Europe, especially France, Germany, and Spain. Thanks to the result brought by the marketing of hand tools and auto tools, we did not suffer the gloomy European market in the past few years. We used to build partnerships with traders directly and later we went active in exhibitions and advertising to find customers, thus more business opportunities were focused.
“Myanmar has Great Potential!”
Mr. Lin accepted our interview right after he came back from an auto parts exhibition held in Myanmar. He said that most hand tools in Myanmar were imported from China and Thailand due to its vicinity. When the government of Myanmar officially approved the setup of auto repair & maintenance service in 2012, the 1st edition of auto parts exhibition was then given in 2013, which demonstrated how the government of Myanmar greatly valued the development of this industry. With the growing availability of auto repair & maintenance service instead of conventional mobile repair stops, the government of Myanmar gradually unifies its automotive regulations. Jeoutay Liu has positive expectation to the potential of the automotive repair & maintenance service in Myanmar.
For this emerging market, any commonly circulating product in the global market is still new one to it domestically. “People in this market lack the knowledge of these products, so how can they compare the prices with others?” added Liu. In addition to Myanmar, Malaysia, Thailand, and other Southeast Asian markets are all the targets of Jeoutay Liu.
Not Afraid of Competitors
Facing the emergence of China, Jeoutay Liu thinks that it has gradually lost its advantage of labor cost. Plus, factors influencing product quality in China still do not show unified status, so its threats are weakened. On the other hand, Jeoutay Liu can satisfy customers’ demand and provide superior products. It continues to make revisions to products according to the feedbacks from the market. For example, it introduced the idea of radio antenna into the hand tools, making it convenient to be used in a narrow space. “Produce and sell by itself! Offer good prices and quality!” That is why Jeoutay Liu’s products are greatly admired by the international market.
Subscribe
