HOLDING FAST: The shoelace and fastener maker expects to see an increase in orders ahead of the Tokyo Olympics as major customers release new shoe designs
Date: Jul 17, 2019
By: Kwan Shin-han / Staff reporter
Taiwan Paiho Ltd (台灣百和) yesterday said its new factory in Vietnam would start mass production next month, which is expected to raise its Vietnamese output by 20 percent later this year.
“Production lines at our factory in the Le Minh Xuan 3 Industrial Park recently started pilot runs and are to begin mass production next month to meet growing demand in the region,” a Paiho public relations official, who declined to be named, said by telephone.
“We expect the second half of the year to outpace the first half as the Tokyo Olympics draw near, and orders for shoelaces are likely to grow as our clients release new shoe designs,” she said.
In the first half of the year, net profit attributable to the parent company, which makes shoelaces, touch fasteners and elastics for shoes and clothes, climbed 16.81 percent year-on-year to NT$798.26 million (US$25.72 million), Paiho reported last week. [FULL STORY]