Taiwanese Hand Tool Makers Form Technology Consortium

Taipei, July 10, 2006 (CENS)--Six Taiwanese hand-tool makers, China Steel Corp., and the government-backed Metal Industries Research and Development Center recently co-formed a technology forum as part of their plan to help the island's hand-tool industry boost its value.

The forum will initially focus on the development of high value added metal materials and non-toxic trivalent chromium (Cr3+) electroplating technology.

These organizations estimate that the forum would help the Taiwanese hand-tool industry bring in additional revenue of at least NT$750 million (US$23 million at US$1:NT$32) per year. Last year, the industry brought in total revenue of about US$2.4 billion.

Charles Hsieh, chairman of the Taiwan Hand Tool Manufacturers' Association, pointed out that advanced material and electroplating technologies were now the two crucial factors that could help Taiwanese suppliers beat mainland Chinese rivals, since there is now no difference in the manufacturing equipment used by the industry on the two sides of the Taiwan Straits. The mainland replaced Taiwan in 2003 as the world's largest hand-tool supplier.

The forum's material programs will help the island's hand-tool industry develop tools based on metal bars and sheets. Its electroplating program will help the tool makers to migrate to Cr3+ technology from its current toxic hexavalent chromium (Cr6+) technology.