Fri, Jun 07, 2019 - Page 12 News List

Gloria Material to boost output 25% on aerospace need

By Kwan Shin-han  /  Staff reporter

Gloria Material Technology Corp (GMTC, 榮剛材料科技) yesterday said it plans to increase its output by 25 percent this year and add another 25 percent next year to meet the growing aerospace demand.

“We plan to increase our output as orders from the aerospace industry have continued to increase,” an official at the Tainan-based specialty alloys maker told the Taipei Times by telephone, adding that it is optimistic about order prospects for this year.

The company produces metal components for aircraft engines, landing gear and actuators.

High factory utilization drove its revenue for the first four months of the year by 14.67 percent to NT$3.5 billion (US$111.4 million) from a year earlier, company data showed.

GMTC plans to add two vacuum arc remelting units, which improve the cleanliness and refine the quality of alloys, this year to the six it has and another two next year, the official said.

It also plans to increase its melting capacity by adding a 50-tonne electric arc furnace (EAF) to join its current 35-tonne unit, said the official, who preferred to remain anonymous.

Chairman Wang Chiung-fen (王炯棻) yesterday told the annual general meeting that the new EAF should begin operations in 2021.

The company aims to improve product quality and continue to acquire certificates for its manufacturing procedures, he said.

Shareholders approved management’s proposal for a cash dividend distribution of NT$0.45 per common share, which implied a payout ratio of 81.82 percent based on last year’s earnings per share of NT$0.55.

Wu Yi-qing (吳怡青) yesterday was elected to serve as an independent director, with her term to last until to June 1 next year.

GMTC reported a net profit of NT$81.13 million for the first quarter of this year, up 259.4 percent from NT$22.57 million last year, with EPS of NT$0.19.

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