Sat, Dec 07, 2019 - Page 12 News List

Economy ministry approves seven SME applications

INVESTMENT PROGRAM:PharmaCore, Yu Lin, Uber Metalworks, Ashun Fluid Power, Chuan Wei Metal, Rainbow Ming and Wei Hsing Foundry joined

By Natasha Li  /  Staff reporter

The Ministry of Economic Affairs yesterday approved applications from seven small and medium-sized enterprises (SME) to invest a combined NT$2.3 billion (US$75.4 million) through a government program tailored specifically for SMEs to boost investments in the nation.

Including yesterday’s approvals, 81 companies have joined the program, with overall investments topping NT$36.7 billion, ministry data showed.

Yu Lin Enterprise Co (煜林企業), which specializes in chromium plating for plastic components and exports more than 90 percent of its products, plans to invest NT$1 billion by setting up a smart production facility at the Yongkang Technology Industrial Park (臺南永康科技工業園區) in Tainan as it prepares for market volatility.

The company plans to use automated machinery and environmentally friendly equipment at the facility, the ministry said, adding that its plans would create 246 jobs.

PharmaCore Biotech Co (博謙生技), which develops niche active pharmaceutical ingredients and sterile drugs, is to invest NT$300 million by adding a production site for sterile lyophilized injectables to its plant at the Tainan Science Park (台南科學園區) as it aims to comply with international regulations.

The company would hire 18 local professionals, the ministry said.

Precision components processing specialist Uber Metalworks Co (萬向精密), which supplies leading automakers such as Porsche AG, Toyota Motor Corp and Volvo AB, plans to invest about NT$300 million to source automated machinery equipment for a new plant at the Dadu Industrial Park (大肚產業園區) in Taichung.

Ashun Fluid Power Co (油順精密), which sells its own branded products, is to invest NT$200 million to establish a smart production line at the Refined Mechanics Industrial Park (台中精密機械科技園區) in Taichung as it looks to lower production costs to sharpen its competitive edge, the ministry said.

Power metallurgy specialist Rainbow Ming Industrial Co (虹銘公司), which is working with Fukuta Electric and Machinery Co (富田電機) to develop components for electric vehicles, is to invest NT$200 million to set up a smart production plant in Miaoli County as its existing plant saturates, the ministry said.

Wei Hsing Foundry Industry Co (威興鑄造), which specializes in casting components for machinery equipment, plans to invest NT$170 million to expand capacity, while Chuan Wei Metal Co (詮偉五金), which supplies leading aerator manufacturer German-Swiss Neoperl Group, is to invest up to NT$80 million to set up smart production lines to increase its production capacity, the ministry said.

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