Mosa Industrial Corp (元翎精密), a leading manufacturer of high-pressure gas cylinders, has received orders valued at more than US$100 million for hybrid airbag inflators, the Chinese Economic Daily News reported yesterday.
The newspaper said the Huwei (虎尾), Yunlin County-based company would begin production of the hybrid airbag inflators in the fourth quarter of this year, which would mark the company’s entry into the supply domain of critical automobile parts.
Mosa is the world’s No. 2 and Asia’s No. 1 manufacturer of high-pressure gas cylinders for consumer products.
The newspaper cited Mosa chairman Wang Te-hsin (王德鑫) as saying that the company planned to invest more than NT$4 billion (US$132.89 million) to expand its production capacity.
Under the company’s plan, it will employ eight production lines in the plant to yield 16 million units of gas inflators a year, with an annual production value of NT$8 billion, the report said.
Headquartered in the Huwei Park of Central Taiwan Science Park (中部科學園區), Mosa posted revenue of NT$870 million, with earnings per share of NT$0.3, last year, the report said.
With the production of automotive airbag inflators in the fourth quarter of this year, the company expects its revenue to reach NT$1 billion this year, and NT$2 billion for next year, the report said.
Currently, Mosa has a paid-in capital of NTS1.16 billion, with automaker Yulon Group (裕隆集團) being the biggest shareholder, with a 23.88 percent stake.
Other shareholders in the company include Euroc Venture Capital Corp (歐華創投), Mega International Commercial Bank (兆豐商銀), Yushan Ventures Ltd (玉山創投) and Industrial Bank of Taiwan (台灣工銀). The newspaper said Mosa was planning to apply to stock exchange regulators to trade its shares next year on the smaller Emerging Stock Market, which is a preparatory board for Taiwan’s two main bourses.