Global Foundry Sourcing Conference Enables Chinese Foundry Suppliers to Link up with High-quality Transnational Buyers
October 23, 2024 Qingdao Guokang Haiqing Hotel
On October 23, 2024, the 32nd Global Foundry Sourcing Conference 2024, jointly organized by Foundry-Suppliers.Com (FSC) and Suppliers China Co., Ltd. (SC), successfully took place in Qingdao, China. The conference drew a significant gathering of leading global buyers such as ZF, JLG, ZETO, SKF, Weir ESCO, Cargotec, Dayco, HITACHI, and more, representing a wide array of industries including automotive, construction machinery, mining equipment, and energy.
Amidst the backdrop of a global economic downturn impacting demand from the West, Mr. Wang Longhe, CEO of Foundry-Suppliers.Com (FSC), noted an intriguing shift-Russian buyers have expressed heightened interest in Chinese markets, despite of the constraints such as supplier resources and effective payment channels, which they are trying to address. This trend highlights the emerging opportunities for casting procurement from the nations involved in the "Belt and Road" initiative and the Commonwealth of Independent States.
Reflecting the diverse needs of participating buyers, FSC extended invitations to suppliers from 23 provinces and regions, spotlighting leading figures in the casting industry. During the presentation session, some suppliers made presentations to showcase their technological advancements and solutions to prevailing industry challenges. Some other suppliers have brought their product samples to the conference site, drawing significant interest from buyers who visited for discussions and negotiations. These engagements further exemplify FSC’s vision of fostering a comprehensive understanding of the mutual needs and strengths between suppliers and buyers, thereby unlocking greater collaboration potential and achieving mutually beneficial growth.
Thanks to the preliminary sourcing by FSC, some buyers were able to establish initial contacts with casting suppliers before the event, and even arranged for site visits to casting factories after the conference. These tours left them impressed, and they also praised FSC's adept facilitation of their procurement needs.
Companies like Xuancheng Chieftech Metal Technology Co., Ltd., Guangzhou MEKA Industrial Co., Ltd., Yu Chieh Co., Ltd., Qufu Zhengcheng Machinery Technology Co., Ltd., Thermal Valve Group Co., Ltd., Ningbo Tengtou Precision Casting Co., Ltd., Hebi Sea Magnesium Technology Co., Ltd., Chongqing Linzhou Machinery Manufacturing Co., Ltd., and Tianjin VCI Co., Ltd. also presented their products at the event, drawing significant interest from buyers who visited for discussions and negotiations.
The conference highlighted a clear trend: foundries that prioritize R&D and niche specialization thrive in securing significant contracts. Such investments position them favorably in discussions with top-tier buyers, whereas enterprises lacking these attributes may struggle. Today's market conditions have prompted an increased emphasis on financial stability and innovation, as buyers scrutinize suppliers' fiscal health and technological prowess.
In response to these industry dynamics, FSC unveiled its new online foundry sourcing platform, www.foundry.cn. This platform marks a major stride in enhancing the connectivity between global buyers and suppliers, streamlining procurement processes, and offering tailored support with rapid responsiveness. Through this platform, FSC's dedication to digital transformation not only enhances its service capability but also drives the global foundry industry towards sustainable growth and innovation.
