Global Tek Fabrication Co Ltd (時碩工業), a precision machine maker, has a positive outlook on business this year, due to steady demand in the aviation and automobile industries, the company said yesterday.
Global Tek makes jack heads for thrust reversal and linear control systems for Boeing Co’s 787 Dreamliners, while its oil and heat exchange system for Leap engines are installed on Airbus SE A320neos and Commercial Aircraft Corp of China’s (COMAC, 中國商用飛機) C919 jetliners.
Global Tek’s revenue last year was NT$3.43 billion (US$111.2 million), compared with NT$3.34 billion a year earlier, with parts for powertrains and safety systems contributing 39 percent and 24 percent respectively, company data showed.
Components used in the oil refining, wafer and bicycle industries made up 25 percent of overall revenue last year, while aviation components contributed 12 percent, the data showed.
It expects the global automobile industry to be flat this year, but rising demand for alternative-fuel vehicles would boost sales of its powertrains, it said.
Global Tek bought a 70 percent stake in Allied Advantage Sdn Bhd in November last year for about NT$179.07 million.
“This deal improves our manufacturing ability in forging and stamping. Most importantly, it helps us to enter ASEAN markets while solving the worker shortage problem in China,” Global Tek accounting manager Alan Lin (林劭穎) said at an intelligent manufacturing meeting organized by the Taiwan Stock Exchange Corp.
Global Tek chairman Huang Ya-hsing (黃亞興) said that Malaysia-based Allied Advantage would have give it an advantage in exporting car stereos to the US and Europe, due to lower tariffs the nation faces.
At home, the company would continue to invest and boost headcount at the Central Taiwan Science Park (中部科學園區), Huang said.
Global Tek has more than 900 workers in Taiwan and China. The company operates a factory in Taiwan that accounted for 46 percent of last year’s total revenue. It runs two factories in China.
Global Tek reported earnings per share of NT$3.24 for last year, down from NT$3.29 a year earlier.
ISSUES: Gogoro has been struggling with ballooning losses and was recently embroiled in alleged subsidy fraud, using Chinese-made components instead of locally made parts Gogoro Inc (睿能創意), the nation’s biggest electric scooter maker, yesterday said that its chairman and CEO Horace Luke (陸學森) has resigned amid chronic losses and probes into the company’s alleged involvement in subsidy fraud. The board of directors nominated Reuntex Group (潤泰集團) general counsel Tamon Tseng (曾夢達) as the company’s new chairman, Gogoro said in a statement. Ruentex is Gogoro’s biggest stakeholder. Gogoro Taiwan general manager Henry Chiang (姜家煒) is to serve as acting CEO during the interim period, the statement said. Luke’s departure came as a bombshell yesterday. As a company founder, he has played a key role in pushing for the
China has claimed a breakthrough in developing homegrown chipmaking equipment, an important step in overcoming US sanctions designed to thwart Beijing’s semiconductor goals. State-linked organizations are advised to use a new laser-based immersion lithography machine with a resolution of 65 nanometers or better, the Chinese Ministry of Industry and Information Technology (MIIT) said in an announcement this month. Although the note does not specify the supplier, the spec marks a significant step up from the previous most advanced indigenous equipment — developed by Shanghai Micro Electronics Equipment Group Co (SMEE, 上海微電子) — which stood at about 90 nanometers. MIIT’s claimed advances last
CROSS-STRAIT TENSIONS: The US company could switch orders from TSMC to alternative suppliers, but that would lower chip quality, CEO Jensen Huang said Nvidia Corp CEO Jensen Huang (黃仁勳), whose products have become the hottest commodity in the technology world, on Wednesday said that the scramble for a limited amount of supply has frustrated some customers and raised tensions. “The demand on it is so great, and everyone wants to be first and everyone wants to be most,” he told the audience at a Goldman Sachs Group Inc technology conference in San Francisco. “We probably have more emotional customers today. Deservedly so. It’s tense. We’re trying to do the best we can.” Huang’s company is experiencing strong demand for its latest generation of chips, called
GLOBAL ECONOMY: Policymakers have a choice of a small 25 basis-point cut or a bold cut of 50 basis points, which would help the labor market, but might reignite inflation The US Federal Reserve is gearing up to announce its first interest rate cut in more than four years on Wednesday, with policymakers expected to debate how big a move to make less than two months before the US presidential election. Senior officials at the US central bank including Fed Chairman Jerome Powell have in recent weeks indicated that a rate cut is coming this month, as inflation eases toward the bank’s long-term target of two percent, and the labor market continues to cool. The Fed, which has a dual mandate from the US Congress to act independently to ensure