ZHEJIANG, China, Sept. 16, 2013
ZHEJIANG, China, Sept. 16, 2013 /PRNewswire/ -- Foyo Valve held its semi-annual conference on September 10, 2013 in ZHEJIANG Province, China. At the conference, the president, Glory De, declared that the company has kept a stable sales growth of valve and fitting products under the slowdown conditions of China's economy.
Foyo Valve's annual sales in the first half of 2013 were about the same as in the first half of 2012, but better pricing, lower selling and lower general and administrative expenses increased operating profits and operating profit margins compared to a year ago. Net sales of Foyo Valve are expected to achieve a higher increase in 2013 than the past 2012. The positive growth of Foyo Valve also successfully maintained its annual export rate at 90% for five consecutive years, with most valve products shipped to European countries, US, Japan and other regions worldwide.
In 2012, the total sales of China's valves industry was around $5 billion, of which $2.6 billion was contributed by overseas companies, and the rest by domestic companies. Foyo Valve, as a professional manufacturer and supplier of stainless steel valves and fittings, has created total sales of $20 million, which was among the top of the list of profitable domestic valve companies.
An authorized report says that around 50% of valve fittings in the world market are purchased from China; the ratio is much higher except for brand labeling. Global business pushes China valves towards the world market; at the same time, it pushes China valve companies to restructure and establish their own labeled valves. Foyo Valve, a high-tech stainless steel valve company of 20 years that integrates designing, casting, processing, assembling, inspecting, testing, marketing and service together, has been successfully working toward its own brand.
"We are granted these continuous successes because we have 20 years of manufacturing experience, world-standard high quality products, a senior engineering team, professional and dedicated workers, an efficient management team and a dedicated service heart for all customers!" Glory De said proudly.
Though facing the difficult foreign trade conditions of China, manager Li feels the same confidence in Foyo Valve as he did in the past. Like his words "create attentive valves, live hundreds of years with the world's top flow control companies", the key to success for Foyo Valve is having the best quality. Foyo Valve has acquired ISO9001 and TUV certificates, and has passed the DVGW W534, PED 97/23/EC, CE, TS 16949, API 6D, API 608, TB-TSG authentication successively. For its good quality and dedicated service, Foyo Valve has established a long-lasting relationship with many worldwide well-known valve companies such as KITZ of Japan, HONEYWELL of America, DANFOSS of Denmark and ABB of Switzerland.
About Foyo Valve
Foyo Valve, short for Foyo Valve FLOW CONTROL CO., LTD, specializes in all kinds of ball valves, gate valves, check valves, globe valves and all kinds of fittings that are widely used in the petroleum, chemical, gas, heat, electricity, coal and chemical industries, water treatment, etc. The valves and fittings are designed and manufactured according to international standards, such as API, ANSI, BS, DIN, JIS, and they are made of CF8M, CF8, CF3, CF3M and WCB.
The company was found in 1996 with a total capital of nearly $10 million. It covers an area of 67,000 square meters and has 500 employees, four precision casting production lines, 80 CNC lathes, 100 processing equipment units and special machines, which are capable of an annual output of 1.08 million sets of valves and 1,000 tons of pipe products.
Foyo Valve's mission: Creating the faithful brand and becoming the professional pioneer in the industry.