Sat, Jan 26, 2019 - Page 12 News List

Ministry approves Nan Liu Enterprise investment project

By Lisa Wang  /  Staff reporter

The Ministry of Economic Affairs yesterday approved a NT$3.5 billion (US$113.5 million) investment by nonwoven fabrics manufacturer Nan Liu Enterprise Co Ltd (南六), which is planning to move high-value-added production lines to Taiwan to circumvent heavy tariffs stemming from the US-China trade dispute.

Nan Liu plans to build an operating center and a smart manufacturing base in Kaohsiung’s Yenchao District (燕巢) and the investment would create 72 jobs, the ministry said in a statement.

As of Sept. 30 last year, Nan Liu had 959 employees with 66 percent in China.

Nan Liu provides consumer hygiene products for babies and women, spunlace nonwoven fabrics, through-air thermal-bonded nonwoven fabrics and fabric for disposable surgical gowns, according to the company’s Web site.

The company has joined Quanta Computer Inc (廣達), home decor manufacturer Ching Feng Home Fashions Co Ltd (慶豐富) and telecom equipment maker Accton Technology Corp (智邦科技) in moving investments back from abroad, the ministry said.

The ministry said it has attracted NT$22.2 billion in investments from the four manufacturers since it set up a task force for home-bound investments.

Nan Liu’s consolidated revenue rose 5.48 percent to NT$569.3 million last year, compared with NT$529.3 million in 2017, according to a company filing with the Taiwan Stock Exchange.

Its net profit grew 17.59 percent to NT$449.97 million in the first three quarters last year, compared with NT$382.65 million in the same period in 2017, while earnings per share climbed from NT$5.27 to NT$6.2.

This story has been viewed 1531 times.

Comments will be moderated. Keep comments relevant to the article. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned. Final decision will be at the discretion of the Taipei Times.

TOP top