CMC Magnetics Corp (CMC, 中環), the world's second-biggest manufacturer of recordable compact discs (CD-Rs), yesterday said its board had approved a proposal to spend a maximum of NT$400 million (US$12.1 million) to set up an optoelectronics affiliate as part of its latest diversification efforts.
CMC said the new affiliate would produce a wide range of optoelectronics products. No further details were released yesterday.
CMC shares rose nearly 1 percent to NT$15.2 yesterday, compared with local rival Ritek Corp's (錸德科技) 0.1 percent dip to NT$9.49 and the benchmark TAIEX's 0.11 percent gain, primarily owing to CMC's rising contributions from its affiliates.
PHOTO: LI CHIN-CHI, TAIPEI TIMES
CMC set up a solar cell manufacturing unit, Sunwell Technology Corp (
CMC's touch-panel manufacturing venture with Japan's Fujitsu Co Ltd, Transtouch Technology Inc (
CMC posted a net income of NT$211 million in the first quarter of the year, up 22 percent from a year ago. It has not yet reported second-quarter results.
Ritek yesterday reported a net income of NT$51.81 million for the first six months of this year on slowing demand.
Separately, CMC's board yesterday also approved a plan to inject an additional US$8.64 million into a unit in Jiangsu Province, China. The investment aims to expand production to meet demand for CD-Rs in China, the company said in a statement submitted to the Taiwan Stock Exchange.
Stephen Garrett, a 27-year-old graduate student, always thought he would study in China, but first the country’s restrictive COVID-19 policies made it nearly impossible and now he has other concerns. The cost is one deterrent, but Garrett is more worried about restrictions on academic freedom and the personal risk of being stranded in China. He is not alone. Only about 700 American students are studying at Chinese universities, down from a peak of nearly 25,000 a decade ago, while there are nearly 300,000 Chinese students at US schools. Some young Americans are discouraged from investing their time in China by what they see
Taiwan Transport and Storage Corp (TTS, 台灣通運倉儲) yesterday unveiled its first electric tractor unit — manufactured by Volvo Trucks — in a ceremony in Taipei, and said the unit would soon be used to transport cement produced by Taiwan Cement Corp (TCC, 台灣水泥). Both TTS and TCC belong to TCC International Holdings Ltd (台泥國際集團). With the electric tractor unit, the Taipei-based cement firm would become the first in Taiwan to use electric vehicles to transport construction materials. TTS chairman Koo Kung-yi (辜公怡), Volvo Trucks vice president of sales and marketing Johan Selven, TCC president Roman Cheng (程耀輝) and Taikoo Motors Group
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New apartments in Taiwan’s major cities are getting smaller, while old apartments are increasingly occupied by older people, many of whom live alone, government data showed. The phenomenon has to do with sharpening unaffordable property prices and an aging population, property brokers said. Apartments with one bedroom that are two years old or older have gained a noticeable presence in the nation’s six special municipalities as well as Hsinchu county and city in the past five years, Evertrust Rehouse Co (永慶房產集團) found, citing data from the government’s real-price transaction platform. In Taipei, apartments with one bedroom accounted for 19 percent of deals last