Casetek to expand chassis capacity in China
Adam Hwang, DIGITIMES, Taipei [Wednesday 26 February 2014]

Taiwan-based metal-alloy chassis maker Casetek Holdings has revealed it will invest NT$2-3 billion (US$65.9-98.8 million) to expand production capacity at its factory in eastern China in 2014.

The investment will cover the costs of land totaling 100,000 square meters, factory buildings and 500-1,000 CNC machines, the company indicated at an investotrs conference on February 25. Castek currently has two other factories in eastern China, witha a total of 5,000-6,000 CNC machines.

Currently, 85% of Castek’s consolidated revenues come from iPad Air and iPad mini chassis and 10-15% from notebook chassis, company CEO Gary Chunag said, adding Lenovo and Hewlett-Packard (HP) are the main clients for notebook chassis.

Casetek expects to begin shipments of chassis for mobile terminal devices other than tablets to new clients in second-quarter 2014, Chuang added. The new clients reportedly are China-based smartphone vendors.

Casetek: Financial report, 4Q13 (NT$b)
Item 4Q13 Q/Q Y/Y 2013 Y/Y
Consolidated revenues 11.271 36.25% (4.68%) 36.543 10.21%
Gross margin 32.44% 4.35pp 4.74pp 30.84% 7.39pp
Net operating profit 2.620 56.51% 14.01% 8.277 75.25%
Net profit 1.766 33.69% 24.28% 6.123 88.69%
Net EPS (NT$) 5.20 18.10

Source: Company, compiled by Digitimes, February 2014

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