Wed, Jun 07, 2017 - Page 12 News List

Global PMX reports sales increase on car demand

By Kuo Chia-erh  /  Staff reporter

Global PMX Co Ltd (智伸科), a supplier of precision machinery processing services, yesterday reported sales of NT$311.03 million (US$10.34 million) for last month, a 5.58 percent increase from the same period last year, bolstered by increasing demand for cars.

In the first five months of this year, the company’s aggregate sales jumped 8.07 percent to NT$1.56 billion from the same period last year, the company said in a statement.

Global PMX manufactures components for automotive parts suppliers worldwide, including Continental AG, Robert Bosch GmbH and BorgWarner Inc, company data showed.

Machinery components for vehicles last year remained the biggest revenue contributor for the company, supplying nearly 64 percent of total sales, the data showed.

The machinery maker provided an optimistic business outlook for the rest of the year, saying that rising penetration of automotive safety and fuel injection systems is expected to further stimulate sales.

The installation rate of gasoline direct injection systems in North America is forecast to reach nearly 60 percent this year, compared with only 40 percent in 2015, company data showed.

To meet better-than-expected demand, the company said it plans to expand production capacity at its plant in Shenzhen, China.

Global PMX is scheduled to hold its annual shareholders’ meeting in Taoyuan on June 16, when shareholders are to vote on the distribution of a dividend of NT$5.96 per common share, compared with NT$3.74 last year.

The dividend proposal was based on the company’s record-high net profit of NT$487.7 million for last year, a 67.3 percent surge from NT$291.5 million in 2015.

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