Evolution is crucial to surviving changing business climates. After more than 30 years of providing reliable service to state industries in Taiwan's power sector, Yung-Fu is ready to expand its services into environmental protection.
"In business, the key to success is to keep developing new things," says chairman Tenray Chou. "And we're good at developing ways to keep the earth clean."
Yung-Fu's manpower services have proven indispensable in power distribution, power plant maintenance, electrical and mechanical engineering and construction for government-owned companies, such as Taiwan Power, and major energy players, such as China National Petroleum Corporation.
Having established itself in Taiwan, Yung-Fu looks to the mainland as the primary focus of its revitalised corporate outlook. Chou's extensive experience and long-term government connections on the mainland are paving the way towards potential partnerships.
In line with provisions in China's 12th five-year plan that encourage air pollution reduction and other eco-friendly measures, Yung-Fu is completing a waste management facility in Jiangsu. It is also working to provide incinerators, recycling centres and air purification equipment throughout the country. Yung-Fu is able to collaborate with American and European companies to deliver the technology that the mainland needs to restore and maintain its natural resources. Working with more private companies in addition to state industries is part of Yung-Fu's evolution. The company aims to have the private sector account for 50 per cent of its business in the next five years. "Our goal is to build up trust with private enterprises and not just governments," says president Steve Fan.
Yung-Fu's openness to working with private companies extends to Southeast Asia, where its environmental solutions are also applicable, particularly in Indonesia and Malaysia.
"Because of their long history together, we hope that Southeast Asia will welcome partnerships with Taiwan," Chou says. "We plan to work harder for this because Southeast Asia has more opportunities."