Nico Steel turns around on technological innovation, shift in strategy

SINGAPORE (Sept 10): Nico Steel Holdings has come a long way since its IPO in 2005, from being primarily a supplier of metal to major hard disk manufacturers, to having patented technology producing innovative metal alloys for electronics manufacturers today.

This change has been necessary in the evolution of the company and industry, particularly in the wake of the global financial crisis, says Danny Tan, president of Nico Steel. Rather than compete with Chinese players in the HDD industry in terms of price and network, Tan decided to invest in technology and compete in new sectors.

“Today, hard disks account for [only] 1% to 2% of what we do,” says Tan. The shift towards the electronics industry has also expanded the company’s customer base, from Singapore to now include China, Taiwan, Japan, Thailand, the US and Europe. 

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