Wed, Aug 28, 2019 - Page 11 News List

Excellence Opto plans expansions this year

LIGHT THE WAY:In the first seven months of the year the firm’s LED modules were used in about 1 million vehicles sold in the US, or more than 10% of all US sales

By Kwan Shin-han  /  Staff reporter

LED module maker Excellence Optoelectronics Inc (聯嘉光電) plans to increase capacity at its plants in Taiwan, the US and China later this year as major clients file more orders and requests, the company said on Monday.

Orders from leading auto parts suppliers such as Flex-N-Gate Corp, Magna International Inc and Hella GmbH & Co KGaA have grown steadily this year, company president Fanny Huang (黃昉鈺) told an investors’ meeting in Taipei.

The Hsinchu-based company has spent US$3 million on setting up two production lines for tail lights in Dundee, Michigan, which are expected to begin mass production in the fourth quarter, Huang said.

“Another production line for LED headlights will be added in the first quarter next year after we gain certification later this year,” she said.

The company’s LED modules were used in about 1 million vehicles in the US over the first seven months, including Ford Motor Co’s F-series pickup trucks and Tesla Inc’s Model 3, accounting for more than 10 percent of total US vehicle sales, she added.

The company aims to break into the top five LED module suppliers in the US, which remains its largest market with 82 percent of total sales so far this year, Huang said.

In Taiwan, the company next quarter plans to add two LED module production lines to its existing 11 lines, as well as spend between NT$700 million and NT$800 million (US$22.28 million and US$25.47 million) on new production lines for LED package components and vehicle lights, which are expected to start operation in the second quarter of 2021, Huang said.

Two new production lines for LED modules and one line for precision components are also scheduled to begin operation later this year at the company’s plant in Dongguan, China, with a total investment of NT$50 million, she said.

Revenue grew 24.48 percent annually to NT$2.39 billion in the first seven months, with automotive LEDs accounting for 89 percent of the total and traffic lights making up 7 percent, Excellence Optoelectronics said.

Net income rose 33.42 percent to NT$96.46 million in the first half of the year, with earnings per share of NT$0.56 and gross margin of 18.65 percent, company data showed.

The company’s shares closed up 9.97 percent at NT$20.4 in Taipei trading yesterday.

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