Sat, Nov 23, 2019 - Page 12 News List

Ministry approves eight more SME investment bids

By Natasha Li  /  Staff reporter

The Ministry of Economic Affairs yesterday approved another eight applications by small or medium-sized enterprises (SME) to participate in a government program to stimulate investment in Taiwan.

The program has recruited 68 SMEs with investment pledges exceeding NT$32.9 billion (US$1.08 billion) alongside 2,776 job opportunities, the ministry said.

Lying Environmental Technology Co (立盈環保科技), which turns calcium fluoride waste from the production of integrated circuits, thin-film transistor LCDs and solar cells into fluoride minerals for the steel industry, plans to invest NT$40 million to build an automated production line at its existing plant in Taoyuan’s Pingjhen District (平鎮), the ministry said.

The move to expand capacity came after upstream firms, including Taiwan Semiconductor Manufacturing Co (台積電), Winbond Electronics Corp (華邦電) and Powerchip Semiconductor Corp (力晶半導體), lifted production, the ministry said, adding that Lying has obtained orders from local steelmakers China Steel Corp (中鋼) and Yieh United Steel Corp (燁聯鋼鐵).

Local toolmaker Shin Yung Shing Industry Co Ltd (信永興工業), which supplies Connecticut-based Stanley Black & Decker Inc through its subsidiary Besco Pneumatic Corp (偉全企業), is to invest NT$350 million to set up a new plant in Taichung’s Dali District (大里), as its US customer has allocated its nail gun orders to Besco, the ministry said.

Tool component forger Chaung Chien Co Ltd (忠鍵工廠), which also supplies Stanley Black & Decker through its subsidiary Stanley Chiro International Ltd (史丹利七), plans to invest NT$340 million to build a molding department and smart production process at its existing plant, the ministry said.

Bathroom and kitchen zinc alloy accessories manufacturer Domma Metal Industrial Co (東鎮金屬), which counts US firm Moen Inc, Toto Ltd in Japan and Reece Ltd in Australia among its major customers, is to invest more than NT$500 million to add smart machines and automated warehouse equipment at its plant in Taichung’s Waipu District (外埔) as it looks to focus on producing accessories with safety features, the ministry said.

Domma’s activity would create about 80 job opportunities, it said.

Ting Sin Co Ltd (廷鑫興業), which specializes in aluminum alloy products, plans to invest more than NT$600 million to purchase smart machinery equipment to produce advanced aluminum alloy and medical-use magnesium alloy, the ministry said, adding that it would create 46 job opportunities.

Polyvinyl fluoride laminated steelmaker Meng Sin Material Co (盟鑫金屬) is to invest NT$180 million to add a smart production line to its existing plant in Pingtung County’s Fangliao Township (枋寮), while setting up a research and development center, the ministry said.

Precision Motion Industries Inc’s (銀泰科技) subsidiary Exfiro Co (佳圓軸承), which makes high-precision roller pins, plans to invest NT$170 million to expand production capacity at its plant in Pingzhen, it said.

Golden Spirit Co (國韶實業), a sales agent for detergent supplier Metrex Research LLC of California, is to invest more than NT$200 million to set up the nation’s first smart pharaceutical warehouses in Taoyuan, Changhua County and Kaohsiung, the ministry said.

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