Fri, Oct 18, 2019 - Page 12 News List

Ministry approves ABC’s plan to invest NT$600m

By Natasha Li  /  Staff reporter

The Ministry of Economic Affairs yesterday approved ABC Taiwan Electronics Corp’s (千如電機) application to invest more than NT$600 million (US$19.6 million) in the nation as part of a government program to boost domestic investment.

Specializing in the design and manufacturing of inductive components and precision mechanical parts, the Taoyuan-headquartered company is to add a smart production wing to its facility in the city’s Yangmei District (楊梅).

The move came after a dip in the company’s sales, affected by US tariffs on China imports, as ABC assembles about 70 percent of its products in China, the ministry said.

Since the program’s launch in January, total planned investments by returning Taiwanese companies have reached NT$615.8 billion, creating 53,141 job opportunities, the ministry said.

In a similar program designed for local firms that have not set foot in China, three companies gained regulatory approval to invest a combined NT$1.6 billion and create 66 job opportunities, it said.

That brought the total for such companies to 10, bringing in more than NT$12.2 billion in investments and creating 795 job opportunities, it said.

Plastic bottle and spray manufacturer Living Fountain Plastic Industrial Co (集泉塑膠), which counts Unilever PLC, 3M Co and Sebapharma GmbH & Co KG among its clients, plans to invest more than NT$500 million to expand and upgrade its production facilities at its headquarters in Taichung’s Wufong District (霧峰) as the company aims to produce non-toxic and recyclable single-use cutlery.

Jiun Yo Co (俊侑股份), which specializes in paper food packagings, is to invest more than NT$800 million to set up an automated smart factory near its headquarters in Nantou City as it also looks to focus on environmentally friendly packaging, the ministry said.

Panther Technology Co (鴻谷科技), which provides testing services for mixed-signal, logic analog and other products in the semiconductor industry, is to invest an estimated NT$300 million to purchase Internet of Things (IoT) technology applied testing equipment for ICs at its plant in the Hsinchu Industrial Park (新竹科學園區), the ministry said.

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