Another five companies are to join a three-year government program aimed at encouraging Taiwanese companies to invest back home, the Ministry of Economic Affairs said yesterday, after approving their applications to invest more than NT$4.4 billion (US$139.9 million) and create more than 600 job opportunities.
A total of 123 companies have joined the program since its launch in January, pledging to invest more than NT$568.2 billion and bringing 49,572 job opportunities, the ministry said.
The latest five are LED chipmaker Tyntek Corp (鼎元光電), LED lighting supplier Beautiful Light Technology Corp (麗光科技), hand tool set maker Machan International Co (明昌國際工業), cable producer Copartner Tech Corp (聯穎科技) and an unnamed cable manufacturer, the ministry said.
To avoid rising US tariffs on Chinese goods, Tyntek plans to reduce the production capacity at its plant in Wuhan, China, and instead invest about NT$800 million to add a smart production line for solar irradiation sensor components at its plant in the Hsinchu Science Park (新竹科學園區).
The company plans to recruit 60 local professionals in its relocation effort, the ministry said.
Beautiful Light, which has a plant in Dongguan, China, is to invest NT$700 million to set up a new plant in the Chiayi Machouhou Industrial Park (嘉義馬稠後產業園區), creating up to 450 jobs, the ministry said.
Machan International, which sells products through its own brands BOXO and Bailida, and supplies US-based W. W. Grainger Inc, plans to relocate its China production lines to Taiwan as the company makes more than half of its revenue from the US market.
The firm is to invest NT$1.7 billion by adding automated production lines at its plant in Taichung’s Dajia District (大甲) and provide about 100 job opportunities, the ministry said.
Copartner Tech, which manufactures electrical insulating/conducting materials, as well as electricity and data transmission cables, plans to set up a production plant in Taiwan to meet customer demand.
The New Taipei City-based firm would introduce advanced machinery and equipment to focus on the production of high frequency coaxial cables among others.
Meanwhile, an unnamed cable manufacturer, which supplies automobile and semiconductor companies, plans to invest NT$900 million by setting up two new plants in Tainan, which are to provide 46 job opportunities, the ministry said.
In related news, the ministry said it also approved seven companies in the energy, machinery, environment, medical equipment, circuit boards, Internet and cloud computing sectors to set up production plants in the export processing zone in Kaohsiung.
They plan to invest more than NT$500 million and create an estimated 300 job opportunities, the ministry said.
‘ACCORDING TO PLAN’: A company official said that it has set up production sites worldwide to provide services and that its Wisconsin project was going smoothly Hon Hai Precision Industry Co’s (鴻海精密) smart manufacturing center in Wisconsin would begin trial manufacturing in the middle of this year, the company said yesterday, adding that it plans to build a research institute to develop key technologies to support growth over the next five years. Hon Hai, known internationally as Foxconn Technology Group (富士康科技集團), said in an annual report submitted to the Taiwan Stock Exchange that its planned Foxconn Institute for Research in Science and Technology would conduct research into artificial intelligence, next-generation communications, quantum computing, cybersecurity and nano semiconductors in Taiwan. Hon Hai is to make products at the center
TV and online retailer Momo.com Inc (富邦媒體) yesterday said it has set up a new logistics subsidiary, Fu Sheng Logistics Co (富昇物流), to oversee the company’s extensive shipping operations. Leveraging Momo’s 23 satellite warehouses and distribution centers nationwide, Fu Sheng will be in charge of executing the retailer’s same-day shipment plan for deliveries in Taipei, New Taipei City, Taoyuan, Taichung, Tainan and Kaohsiung, Momo said in a press release. Seeking to further shorten its supply chain, the company is to set up another seven satellite warehouses and distribution centers by the end of the year. “Fu Sheng has a fleet of 200 couriers
E Ink Holdings Inc (元太科技), the world’s sole supplier of e-paper displays for e-readers and shelf labels, posted its best quarterly net profit for the first quarter in nine years amid increased demand during a traditionally slow season. Net profit soared 80 percent to NT$787 million (US$26.23 million) in the quarter ended March 31, compared with NT$438 million a year earlier. That translated into earnings per share of NT$0.69, up from NT$0.39. E Ink posted lower royalty income of NT$371.23 million last quarter from NT$448.74 million a year earlier, a company financial statement showed. E Ink said that it expects royalty income to
The latest US government action against Huawei Technologies Co (華為) takes direct aim the company’s HiSilicon (海思) chip division — a business that in over the past few years has become central to China’s ambitions in semiconductor technology, but is now to lose access to tools that are central to its success. That could make it the most damaging measure by the US yet against a Chinese company. On Wednesday, US officials told reporters that the Huawei’s chip division functioned as a “tool of strategic influence” for the Chinese Communist Party. Huawei, for its part, denounced the US allegations and called the