Taiwan-based PCB maker Apex International, with main manufacturing operations in Thailand, expects to see its new plant come online starting July, with capacity at all its three plants there to be fully utilized by the first quarter of 2022.

The company said its new, third plant in Thailand will be mainly producing PCBs for automotive and household appliances applications, and current automotive PCB capacity at its second plant there will then be vacated to support flexible production of offerings in rush demand by clients.

Apex has landed big orders from new European makers of automotive components, necessitating dedicated production lines to fulfill the orders, industry sources said, adding that the company has also continued to capture new orders for high-end household appliances applications, which will drive up its market share in the segment.

The company is expected to ramp up its profitability in the second quarter of the year with significant product portfolio improvements and price hikes designed to reflect increased materials costs.

Its first-quarter 2021 revenues surged 25.2% on year to NT$3.26 billion (US$116.43 million). But corresponding net earnings plunged 45.6% on year to NT$155 million, affected by foreign exchange losses and sharp increases in raw materials and shipping costs.