“Taiwanese hand tools sector wants to get rid of the fate of OEM”

According to show organiser Taiwan Hand Tool Manufacturers' Association (THTMA), the new Taiwan International Tools & Hardware Expo (TiTE) was advised by the Bureau of Foreign Trade, Ministry of Economic Affairs. It is co-organised by the Strengthening Investment Services Project Office, NDF, the Taiwan Institute of Economic Research and the Taiwan Industrial Fasteners Institute, and supported by the Importers and Exporters Association of Taipei, the Taiwan Machine Tool & Accessory Builders' Association, the Taiwan Aerospace Industry Association, the Taiwan Transportation Vehicle Manufacturers Association, and the Changhua County industrial Association.

The product range is divided into six segments: tools and related accessories; auto repair supplies and car accessories; fasteners and fixings; gardening, outdoor, agriculture and home maintenance, metal processing equipment, testing equipment and industrial safety; construction hardware and locks. The on-site event will be accompanied by a virtual exhibition. More than 200 manufacturers have signed up for the exhibition to date, and the booth area is forecast to reach 6 500 m². The Taiwan International Tools & Hardware Expo has an virtual exhibition hall combined with a conference system access to buyers and sellers.

Taiwan is the third largest exporter of hand tools in the world. The total export value of hardware and hand tools from Taiwan reached USD 4.79 bn (EUR 4.48 bn) in 2021, a noticeable increase of over 27.4 per cent compared to the previous year, breaking the historical value on the record. “This breakthrough shows that Taiwan has played a leading role in manufacturing tools and hardware around the world. Thus, we are prepared and excited to host a valuable Taiwan International Tools & Hardware Expo and gather this strong community together. The competitive bargaining power of suppliers in Taiwan fuels us today, and we are working diligently to create the productive platform for all,” said David Huang, Chairman of Taiwan Hand Tool Manufacturers' Association.

“The bargaining power must be enhanced if Taiwanese hand tools wants to get rid of the fate of OEM. Especially when clients have other suppliers to choose from, coupled with the unfavorable environment, negotiating prices will be more challenging. The value of Taiwan's supply chain has filled the industry with orders in the past two years, but it is necessary to plan for the adverse situations in the future by strengthening the brand value, expanding customer sources, and locating the best position in the industry chain,” said Yu Hsiang Chen, Chairman of Redai Precision Tools.

The Taiwan International Tools & Hardware Expo organized by THTMA has been affirmed by the Bureau of Foreign Trade, Ministry of Economic Affairs. With the government supporting cross-sector cooperation, this fair is intended to revitalise domestic and foreign markets. With the resources of foreign trade promoting TiTE domestically and internationally, the matchmaking will be held for international buyers.

As the industrial leading role in the South of Taiwan, the Taiwan Industrial Fasteners Institute acts as a co-organizer, fully integrating the resources of the Southern areas, promoting the exhibition area of Fasteners & Fixings, and creating the first cross-sector cooperation between "Central Hardware” and "Southern Fasteners” to grab global orders together.

The first TiTE is supported by local authorities as well. With the support from the Taiwan Cutting-Tool Engineering Association, the Taiwan Fastener Trading Association, the Taiwan Venture Capital Association, the Association of Locks & Hardware Taiwan, the Taiwan Society for Metal Heat Treatment, the Changhua Plumbing Hardware Industry Development Association and more, the hand tool manufacturing in Taiwan will make its mark on the global stage.

“In the past, the most common problem encountered by traditional Taiwanese businesses was that they could not integrate each stage of work required for digital transformation, or that they did not know how to analyse and manage data in practice such as optimising management and process,” said Boice Lin, Chairman of Merkle Taiwan. With more than 50 offices in 17 countries, Merkle has branches throughout the APAC, including China, Singapore, India and Indonesia, which can simultaneously provide overseas services. As a brand with leading experiences, it is confident to help the industry to open up territory under this wave of transformation, and will also share showcases to assist industry transformation at TiTE conference, the Taiwan International Hardware Industry Summit Forum.

Taiwan International Tools & Hardware Expo will present “Tools Kingdom. The Best Supply Chain Around the World in Taiwan.” The expo is the premier gathering of iconic suppliers and international buyers throughout the tools and hardware industry.

For further registration information: https://hardwareexpo-taiwan.com or tite@lanzaexpo.com.