Affected by the European and American debt crisis and economic recession, China fastener market is facing a downward trend in 2012. Many small and medium-sized fastener companies are suffering a series of difficulties such as order shortage, financing problem, overproduction of low-end products and high cost. They complain that the profits are lower and the operational risks are higher.

However, there are still some companies who are taking initiative to transform and upgrade and gain opportunities for development. Zhejiang Qifeng Hardware Make Co., Ltd. is one of them. It has recently entered top-end fastener market and expanded product range. Today, it enjoys a monthly output of 1000 tons and it is expected that the annual sales will reach 120 million yuan.

It is learned that Zhejiang Qifeng and CASIC jointly launch a technological improvement project on top-end fastener (fasteners for aerospace, nuclear power, above grade 12.9) production with expected annual output of 50 million pieces. To ensure the success of this project, the new plant, covering an area of 13,450 square meters, will be put into production. Equipment and testing facilities will be installed soon, and various certificates are being prepared. The project is expected to be completed by the end of 2013 and the sales revenue is expected to reach 50 million yuan in 2013.

Chen Yuezhong, President of Zhejiang Qifeng noted that, “Recently, we have introduced some imported CNC lathes, including production equipment such as CNC centerless grinding machines, multi-stage cold headers; and testing equipment such as nondestructive inspection machines and electronic tension testing machines.”

Moreover, Zhejiang Qifeng also successfully developed railway screw spikes applicable to high-speed railways in China.

It is worth mentioning that Zhejiang Qifeng has recently become one of the six companies in Haiyan County that have been approved to use Zhejiang regional famous brand “Haiyan Fastener”. Chen said, “We are pleased to receive this honor. I believe that it will help improve our corporate image and greatly encourage us to upgrade our products.”

After 12 years of development, Zhejiang Qifeng has become a leading fastener in China. It has 200 employees and covers an area of 45,000 square meters. The product range has expanded from stampings only to aerospace fasteners, railway screw spikes. Its products are exported to Europe, North America, Japan, Australia, Middle East, Southeast Asia, etc.

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