HK box maker Singamas turns to housing, fish and garbage containers

HONG KONG-based Singamas, the world's No 2 container manufacturer, is turning to the manufacture of housing and garbage containers and fish tanks in the face of the global downturn, reports Bloomberg.

Singamas is offering US$30,000-$100,000 multi-box house kits with appliances and bathroom fittings while selling fish containers at $25,000 each and garbage containers at $6,000 a piece against the average shipping container price of $2,131.

The company made 65 per cent of its revenue from specialised boxes in the first half, compared to 18 per cent before the downturn, said Singamas Container Holdings CEO Teo Siong Seng. Previously, he expected specialised units to account for no more than 30 per cent of sales until 2011.

The company had already sold containers fitted with live fish tanks that are cooled to prevent weight loss by having the fish sleep rather than swim on long-haul voyages.

Singamas is also bidding for a contract to supply garbage containers in Shanghai, and aims to sell as many as 3,000 of them worldwide.

The container-maker reported a $27.4 million first-half loss, but expects to narrower it in the second half.

Singamas he said is seeking housing customers in Africa and Australia after winning contracts to supply two South Pacific nations, but not disclosing which ones. The kits are assembled at destination.

"People can get these houses and assemble them very quickly," Mr Teo told Bloomberg. "They're ideal when construction materials aren't easily available."

 

(Source: www.schednet.com)