Superior Plating Technology (SPT), dedicated to metal surface treatment and electroplating processing, is expected to post significant profit growth in 2021 thanks partly to its entry into the supply chain for Intel's processors, as well as new orders for automotive electronics and aerospace applications, according to industry sources.
SPT returned to profitability in 2020 with record revenues of NT$1.04 billion (US$37.14 million) after posting operating losses for five consecutive years. The major turnaround mainly resulted from strong electroplating orders from Apple due to MacBoook, iPad and iPhone all adopting USB Type-C solutions in 2020, the sources said, adding that 60% of SPT's revenues came from shipments to Apple.
Besides stable orders for existing Apple devices in 2021, SPT is also in talks with the vendor for electroplating wireless charging devices, and may score revenue contribution from the new segment later in the year, the sources said.
A significant ramp-up in orders from Seagate was another driver for SPT's results in 2020, contributing at least 30% of its revenues. SPT's new plant in Thailand has completed product validation by Seagate and is expected to win more orders from the US data storage specialist in 2021, the sources continued.
Furthermore, SPT has landed big electroplating orders from Japan-based heatpipe cooling modules supplier Fujikura, indirectly cutting into the supply chain of Intel processors and likely to see revenue contribution starting in second-half 2021, the sources said. The company reportedly has also secured major electroplating orders from automotive and aerospace chips vendors, adding further growth momentum to its revenues and profits for the year, the sources said.