Fri, Jun 28, 2019 - Page 11 News List

Four firms join repatriation program

By Natasha Li  /  Staff reporter

Total investment by Taiwanese companies returning to the nation has reached NT$411.7 billion (US$13.24 billion), the Ministry of Economic Affairs said yesterday as it approved four more firms’ applications to join a government program aimed at stimulating domestic investment.

Up to 81 Taiwanese companies’ applications have been approved since January, while 50 more are waiting in line, the ministry said.

The four firms are to invest more than NT$25.3 billion and create an estimated 1,853 jobs, it said.

Tonic Fitness Technology Inc (期美科技), an original brand manufacturer of exercise equipment and a supplier of US-based Peloton Interactive Inc, plans to set up a new plant in Tainan’s Hsinchi Industrial Park (新吉工業區) to avoid US tariffs on steel and aluminum products, the ministry said, adding that the company is to invest NT$1.6 billion and create 270 job opportunities.

Rexon Industrial Corp Ltd (力山工業), another maker of fitness equipment and power tools that also has major clients in the US, is to move production from Tonxiang, China, to Taichung’s Dali District (大里) in response to clients’ demands, the ministry said, adding that the company plans to invest up to NT$800 million and create 300 job opportunities by expanding its current plant and adding smart production lines.

The return of Tonic Fitness and Rexon would benefit more than 300 firms in the local exercise equipment supply chain, it said.

A firm specializing in automated equipment that has asked not to be named plans to invest NT$2.8 billion to build a plant in Miaoli County’s Tongluo Industrial Park (銅鑼科學園區) and set up smart production lines for automated logistics systems, as well as PC-based controllers, the ministry said, adding that the company plans to recruit up to 100 local professionals.

Another unnamed electronics components manufacturer plans to expand its production capacity of advanced passive components in Taiwan, the ministry said, adding that the company is to invest more than NT$20 billion to build a plant in Kaohsiung and add automated production lines and equipment to its current plant.

The company would provide an estimated 1,183 job opportunities, the ministry said.

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