Adhesives maker Tex Year Industries Inc (德淵企業) yesterday said that new manufacturing facilities at its plant in Taoyuan’s Guanyin District (觀音) would help double its annual hot melt glue stick capacity to 14,000 units, adding that it expects overseas orders to gradually increase later this year.
“We expect demand from Europe, which has shown the fastest growth so far this year, to keep growing in the second half,” a company public relations official told the Taipei Times by telephone.
Hot melt glue sticks, used in furniture assembly and household sanitary products, accounted for about 20 percent of Tex Year’s sales in the first half of this year, the official said, adding that other hot melt adhesive products made up about 60 percent.
The new facilities, which cost the company NT$300 million (US$9.65 million), are equipped with the world’s most advanced automated production lines for hot melt glue sticks, the company said.
China contributed about half of the company’s sales in the first six months, compared with Europe’s 7.5 percent, Taiwan’s 6.5 percent and the US’ 5.5 percent, company data showed.
“Contribution from China declined by 5 percentage points from the same period last year, as the US-China trade dispute lowered electronics imported from China to the US, which led to lower sales of our special chemical products,” said the official, who declined to be named.
Special chemicals made up about 12 percent of the company’s total sales in the first half, he said.
Tex Year reported that net profit jumped 249.02 percent annually to NT$27.83 million in the first half, while earnings per share rose from NT$0.09 to NT$0.31. Revenue increased 2.35 percent annually to NT$1.57 billion.
The company expects more sales contribution from its ultraviolet curing adhesive, one of its special chemical products, later this year, as the item can be applied to electronics, flat panels, composite materials and other new products, the official said.
Tex Year shares yesterday closed up 0.37 percent at NT$13.6 in Taipei trading.
purpose: Tesla’s CEO sought to meet senior Chinese officials to discuss the rollout of its ‘full self-driving’ software in China and approval to transfer data they had collected Tesla Inc CEO Elon Musk arrived in Beijing yesterday on an unannounced visit, where he is expected to meet senior officials to discuss the rollout of "full self-driving" (FSD) software and permission to transfer data overseas, according to a person with knowledge of the matter. Chinese state media reported that he met Premier Li Qiang (李強) in Beijing, during which Li told Musk that Tesla's development in China could be regarded as a successful example of US-China economic and trade cooperation. Musk confirmed his meeting with the premier yesterday with a post on social media platform X. "Honored to meet with Premier Li
ARTIFICIAL INTELLIGENCE: The chipmaker last month raised its capital spending by 28 percent for this year to NT$32 billion from a previous estimate of NT$25 billion Contract chipmaker Powerchip Semiconductor Manufacturing Corp (力積電子) yesterday launched a new 12-inch fab, tapping into advanced chip-on-wafer-on-substrate (CoWoS) packaging technology to support rising demand for artificial intelligence (AI) devices. Powerchip is to offer interposers, one of three parts in CoWoS packaging technology, with shipments scheduled for the second half of this year, Powerchip chairman Frank Huang (黃崇仁) told reporters on the sidelines of a fab inauguration ceremony in the Tongluo Science Park (銅鑼科學園區) in Miaoli County yesterday. “We are working with customers to supply CoWoS-related business, utilizing part of this new fab’s capacity,” Huang said, adding that Powerchip intended to bridge
Dutch brewing company Heineken NV on Friday announced an investment of NT$13.5 billion (US$414.62 million) over the next five years in Taiwan. The first multinational brewing company to operate in Taiwan, Heineken made the statement at a ceremony held at its brewery in Pingtung County. It also outlined its efforts to make the brewery “net zero” by 2030. Heineken has been in the Taiwanese market for 20 years, Heineken Taiwan managing director Jeff Wu (吳建甫) said. With strong support from local consumers, the Dutch brewery decided to transition from sales to manufacturing in the country, Wu said. Heineken assumed majority ownership and management rights
Microsoft Corp yesterday said that it would create Thailand’s first data center region to boost cloud and artificial intelligence (AI) infrastructure, promising AI training to more than 100,000 people to develop tech. Bangkok is a key economic player in Southeast Asia, but it has lagged behind Indonesia and Singapore when it comes to the tech industry. Thailand has an “incredible opportunity to build a digital-first, AI-powered future,” Microsoft chairman and chief executive officer Satya Nadella said at an event in Bangkok. Data center regions are physical locations that store computing infrastructure, allowing secure and reliable access to cloud platforms. The global embrace of AI