Smartphones nearly killed Memtech. Elon Musk brought it back

SINGAPORE (Mar 6): The rise of the smartphone almost broke Tze-Mon Chuang’s company -- Elon Musk provided its salvation.

Singapore-based Memtech International Ltd. has more than doubled its market value in the past year thanks to tie-ups with the likes of Tesla Inc. The manufacturer is a key supplier to Musk’s pioneering auto company, making plastic components for its battery packs.

It’s a far cry from just five years ago, when the seismic shift in the phone industry wrought by the advent of touch-screen devices saw Memtech suffer two straight years of losses. Started by Chuang’s father in 2000, the company had been making millions churning out the plastic keyboards used in mobile handsets produced by Nokia, Motorola and Ericsson.

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