Local beverage supplier Hey Song Corp (黑松) is to open a new plant in Taoyuan’s Jhongli District (中壢) today, which is expected to help boost the company’s revenue by up to NT$2 billion (US$63.81 million) a year after operations begin.
As a result, the company might see its consolidated revenue this year grow by more than 30 percent from last year’s NT$6.2 billion.
“With the inauguration of the third manufacturing plant, the company’s renovation plan has achieved initial success,” company chairman Chang Pin-tang (張斌堂) told a media briefing yesterday.
Hey Song has invested more than NT$2.2 billion in the new plant and related facilities over the past three years.
The plant will manufacture the company’s new carbonated drink, which is targeted at young people, Chang said.
The company introduced new technologies to the plant to enhance production efficiency to 600 bottles per minute, while reducing the use of packing materials by 30 percent, Chang said.
This will improve the plant’s energy efficiency and reduce costs, he added.
Chang said the company aims to grow sales of its core beverage business, improve product safety and develop mobile payment services.
The launch of the plant and a new bottled coffee series in the summer — peak season for the beverage industry — will help boost sales, Chang said.
To increase its product safety efforts, the company plans to enhance product testing at its food safety laboratory, which started operation in 2013, prior to a recent food safety scandal in which Hey Song was said to have unknowingly used restricted substance di(2-ethylhexyl) phthalate.
To accelerate its expansion into the mobile payment service sector, Hey Song also plans to increase the number of vending machines which accept both coins and EasyCards, to reach 300 by the end of this year, from the current total of 100.
The company currently operates about 6,500 vending machines nationwide, which mostly accept coins only.
Last year, Hey Song’s net profit jumped by 26.54 percent to NT$394.96 million, or NT$0.98 per share, compared with NT$312.12 million, or NT$0.64 per share, in 2013, according to the company’s stock exchange filing statistics.
Consolidated sales in the first three months of this year totaled NT$1.33 billion, up 4.84 percent from a year earlier.
END TO SPECULATION: The hotel’s management contract has been extended, despite reports that it wanted to end its alliance with Hyatt Hotels over a deal with Riant Capital Singapore-based Hong Leong Hotel Development Ltd (豐隆大飯店股份) yesterday said it has extended a management contract to ensure the continued presence of the Grand Hyatt brand in Taipei, ending rumors that the two sides were parting ways. “We are pleased Hyatt is able to come to terms on the extension of the management contract of Grand Hyatt Taipei,” said Kwek Leng Beng (郭令明), executive chairman of City Developments Ltd (城市發展) and Millennium & Copthorne Hotels Ltd (千禧國敦酒店). Hong Leong Hotel Development is a subsidiary of Millennium, and both fall under the Hong Leong Group (豐隆集團). The Grand Hyatt Taipei (台北君悅大飯店), owned and built by
’WHITE BOX’: The open platform would give local firms access to Cisco’s cloud-based mobile network to develop 5G telecom equipment and tap into the global market The Ministry of Economic Affairs (MOEA) yesterday introduced a new 5G “open lab” in collaboration with US-based information technology and networking giant Cisco Systems Inc to address the rapidly growing “white box” 5G networking equipment market. The open lab will be a platform where Taiwanese manufacturers can access Cisco’s cloud-based mobile network to develop their own 5G telecom equipment, such as small-cell base stations, network switches, modems and Internet of things (IoT) devices, a ministry statement said. The open platform would allow Taiwanese manufacturers to tap into the lucrative 5G telecom equipment market, which was previously monopolized by Nokia Oyj, Ericsson AB
Nintendo Co is raising its target for Switch production to about 25 million units this fiscal year, people familiar with the matter said, as the ongoing COVID-19 pandemic keeps lifting demand and component shortages ease. The Kyoto, Japan-based company, which in April hiked orders to 22 million units by March next year, is asking partners to tack on another few million units, said the people, who did not want to be identified discussing internal goals. Assembly partners plan to work at maximum capacity through December. The new production target suggests that Nintendo is likely to outperform its Switch sales forecast of 19 million
‘BIG LOSS’: This year might see the last generation of Huawei’s Kirin chips, as their production would stop next month because they are made using US technology Chinese tech giant Huawei Technologies Co (華為) is running out of processor chips to make smartphones due to US sanctions and would be forced to stop production of its own most advanced chips, a company executive has said, in a sign of growing damage to Huawei’s business from US pressure. Huawei, one of the biggest producers of smartphones and network equipment, is at the center of US-Chinese tension over technology and security. Washington last year cut off Huawei’s access to US components and technology, and those penalties were tightened in May, when the White House barred vendors worldwide from using US