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OFCO Embraces Inpour of New Orders; Profits and Market Shares Increase Expected
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2023-07-17
General Manager Yen Wu said that after this wave of industrial reshuffle, some of the competitors have left the market. Plus, the EU's anti-dumping tax on China's fasteners helps OFCO further increase its market share. Recently, the downstream inventory has returned to a normal level and OFCO has seen urgent orders appear. Wu is optimistic about the subsequent rebound in demand.
Wu said, European and U.S. customers will not put all eggs in one basket, and the "eggs" will be scattered across Southeast Asia, Thailand, Taiwan and other places. This steadily boosts OFOC's market share.
OFOC's current equipment utilization rate at 60-70% is expected to improve in the third and fourth quarters as orders are increasing. Lead time has returned to 3 to 4 months as compared to the past normal length of 4 to 5 months.
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urgent orders
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