Tong Lung to Double Sales of Bathroom and Kitchen Fittings in 2012

Taipei, Jan. 31, 2012 (CENS)--The Taiwan-based Tong Lung Metal Industry Co., Ltd., a veteran maker of locks and hardware products, aims to double its sales of bathroom and kitchen fittings this year from NT$90 million scored in 2011.

The company's chairman Tony Ho, doubling as the chairman of Test Rite Group, a box-type wholesaler of home improvement products in Taiwan, stated that Tong Lung's diversification into bathroom and kitchen fittings coupled with Test Rite's promotional strategies has proven successful in the market. In less than two years, Ho furthered, the company's sales of this kind already reached over NT$90 million.

Partly driven by the burgeoning business, Tong Lung posted sales revenue of NT$3.17 billion in 2011, for a 3.2% growth from a year ago, with EPS (earnings per share) for the first three quarters of the year amounting to NT$1.31. Despite global economic depressions, the company amazingly posted a 15% growth in overall shipments in the year.

Considering the fact that the real estate market in the U.S. remains robust, institutional investors opine that the company is likely to further push up its sales revenue by over 10% in 2012, with sales of bathroom and kitchen fittings to double.

In addition to diversifying its customer base, the company's efforts on the development and promotion of higher-margin products will pay off to fuel its business performance. For example, the company's next-generation electronics locks and RIFD-incorporated locks, which have been popularly retailed in the U.S., are widely regarded as promising products to lead its revenue growth this year.

Noteworthily, the company, engaged in OBM (original brand manufacturing) operation and serving as a production arm for Test Rite, also plans to explore the Chinese market in the short term, in a bid to create a new business boost.