Thu, Jun 13, 2019 - Page 11 News List

Medical items add to Global PMX’s auto parts mixture

By Kwan Shin-han  /  Staff reporter

Global PMX Co Ltd (智伸科) plans to expand its automotive and medical components business this year thanks to growth in the electric vehicle and surgical instrument markets.

The firm’s automotive and medical segments boosted cumulative revenue for the first five months of this year by 5.79 percent to NT$1.93 billion (US$61.41 million) from NT$1.82 billion for the same period last year.

“Orders for our components used in motors and transmission systems climbed as the automobile industry seeks better fuel and engine efficiency,” the auto parts maker said in a statement last week.

More vehicles use engines with gasoline direct injection, which, at low fuel loads, gives them higher fuel efficiency, greater power output and lower emissions than traditional engines, Global PMX said.

Shipments of medical components — including instruments used in minimally invasive surgery and general surgery — have steadily increased this year, it said.

Auto parts made up 75.91 percent and medical components 11 percent of first-quarter sales, company data showed.

Only 20 percent of the company’s revenue comes from China-made products sold in the US, so the US-China trade spat has only had a limited effect on the company, it said, but added that adjustments in production would be considered if trade tensions worsened.

The company reported that net income in the first quarter increased 19.81 percent to NT$163.69 million from NT$136.63 million a year earlier.

Earnings per share increased from NT$1.67 to NT$2, while gross margin decreased 1.38 percentage points to 27.8 percent.

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