Taiwanese wire manufacturer New Best Wire Industrial Co., Ltd. has invested around  NT$500 million in expanding its Suzhou factory, with the project expected to be completed within two years.

The expansion will include the acquisition of two new STC furnaces, smart warehousing systems, and other facilities. The company plans to increase production capacity by 30%, with annual sales exceeding RMB 1 billion.

The General Manager of New Best Wire Industrial Co., Ltd. emphasized that this is the company's largest investment project after the Vietnam factory. The project is anticipated to be completed within one and a half to two years, with a projected production capacity of 13,000 tons per month. This expansion signifies the company’s strategic shift towards automation and intelligent development.