Fri, Nov 08, 2019 - Page 12 News List

Mutual-Tek Co to invest NT$3.3bn in repatriation

PLEASING CUSTOMERS:The Ministry of Economic Affairs said 152 returning firms are to invest NT$627 billion, of which NT$200 billion is anticipated by the end of the year

By Natasha Li  /  Staff reporter

Mutual-Tek Industries Co Ltd (相互), which specializes in camera modules as well as rigid and flexible printed circuit boards, is to invest more than NT$3.3 billion (US$108.53 million) in the nation, the Ministry of Economic Affairs said yesterday as it approved the firm’s application to participate in a government-subsidized plan aimed at facilitating the return of Taiwanese companies.

Headquartered in New Taipei City’s Sinjhuang District (新莊), the company’s plans accommodate its customers by relocating some production capacity from a plant in China’s Jiangsu Province to Taiwan, the ministry said.

Mutual-Tek would set up a new plant and a research and development center in New Taipei City’s Taishan District (泰山), the ministry said, adding that the move would create about 200 job opportunities.

So far, 152 returning Taiwanese companies are to invest NT$627 billion, of which NT$200 billion is expected by the end of the year, the ministry said.

In related news, the ministry yesterday approved applications from Xia Shin International Co Ltd (廈興國際) and Fu Hwa Mirror Co Ltd (福華明鏡) to invest more than NT$500 million combined as the two firms participate in another government program that encourages local companies to deepen their roots in Taiwan while helping to upgrade and transform their business.

Xia Shin, which manufactures outdoor furniture and fences, plans to invest NT$400 million by establishing a new plant in Tainan’s Rende District (仁德) as it looks to become more competitive in the US market, the ministry said.

The project should create 97 job opportunities, it added.

Rearview mirror supplier Fu Hwa, which counts General Motors Co, Volkswagen AG and Toyota Motor Corp among its customers, is to invest more than NT$100 million by expanding its existing production facility at the Changhua Coastal Industrial Park (彰濱工業區), the ministry said.

The company also plans to introduce laser cutting machines and other automated equipment at its other plant in Changhua County’s Fusing Township (福興), as it aims to improve production efficiency.

The ministry said that the company’s new investment would create 10 job opportunities.

Since its July launch, the program has brought in more than NT$27.8 billion in investments from 18 local firms, creating 1,887 job opportunities, it said.

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