Nico Steel announces monthly order wins totalling 22 tonnes from new & existing customers

SINGAPORE (Dec 3): Nico Steel Holdings says it has received new monthly orders amounting to about 22 tonnes of aluminium alloy materials per month.

Out of the new monthly orders, about 20 tonnes comes from an existing customer whom Nico refers to as a “major global brand of tablets”, and who intends to use the alloy material to fabricate the LED back panel of competitively-priced tablets.

A remaining 1.8 tonne-per-month order is from a new customer, described as “one of the top printer solutions manufacturers in the world”.

Nico says this customer intends to incorporate the alloy material into its plastic design of its printers in order to enhance their aesthetic aspects.

According to Danny Tan, executive chairman and president of Nico Steel, this is the first printer model which the customer has decided to innovate the aesthetic aspects of.

“We hope the success of the first model will lead them to broaden the application to their wide range of printers,” says Tan.

“We are working on more than 20 new projects for our customers that are at various stages of their product development process. These are on top of the current on-going projects. We will continue to sharpen our expertise in metal materials and engineering solutions, to assist the design and engineering teams of electronic devices and the brand owners to achieve better performances for their products and their economics,” adds Steven Tang, executive director of the group.

Nico does not expect contributions from its latest new orders to have a material impact on its current financial year.

It also cautions that the subsequent increase in production volumes for its metal alloy materials is dependent on the demand for end-products of the group’s customers.

Shares in Nico closed 20% higher at 0.6 cent on Monday.