E Ink Holdings Inc (元太科技), the world’s largest supplier of e-paper displays for e-readers and luggage tags, yesterday received approval from the Ministry of Economic Affairs for a NT$1.2 billion (US$39.86 million) investment project as part of a government incentive program, joining local peers in boosting advanced manufacturing capacity in Taiwan.
E Ink, which operates production facilities in Taiwan, the US and China, is to expand production capacity of front panel laminate film, a key material to manufacture flexible e-paper displays, at a plant in New Taipei City’s Linkou District (林口), the ministry said in a statement.
E Ink, which counts Amazon.com Inc and Sony Corp among its clients, plans to use the investment to revamp its existing factory by replacing old equipment with new automated manufacturing equipment and smart factory management systems, the ministry said.
The ministry approved investment proposals by Toung Loong Textile Manufacturing Co (東隆興業), Taiwan Hodaka Technology Co (穗高科技) and King Slide Works Co (川益科技), which aim to boost local capacity, it said.
Textile maker Toung Loong is to invest NT$800 million to set up a smart production line in Changhua County’s Fangyuan Township (芳苑).
Toung Loong supplies yarn to garment and fabric company Eclat Textile Co (儒鴻) and global brands such as Uniqlo, Lululemon, Nike and Adidas, the ministry said.
Aiming to sharpen its competitive edge in the textile market, the company also seeks to recruit 41 local professionals, the ministry said.
Aluminum alloy parts for consumer electronics manufacturer Hodaka, which supplies casing components for Apple Inc iPhones, is to invest NT$1.2 billion to expand its plant at the Southern Taiwan Science Park (南部科學園區) in Tainan’s Sinshih District (新市).
Looking to establish its presence on Taiwan’s developing aerospace scene, the company would also invest in software and hardware, as well as buy production equipment, the ministry said.
Hodaka is expected to provide 21 job opportunities.
Server slide rail maker King Slide, which counts Hewlett Packard Co and Dell Inc among its clients, is to expand its production capacity at the National Kaohsiung Science Park (南科高雄園區) by setting up a second-phase plant to cope with mounting orders.
The company would introduce smart production lines and provide up to 435 job opportunities, the ministry said.
The three government programs launched last year have accrued NT$851.9 billion in investments from 315 local companies, it said.
POOR INTERNAL CONTROLS: Insurance Bureau Director-General Shih Chiung-hwa said the company is expected to get back on track while its chairman is suspended The Financial Supervisory Commission (FSC) yesterday fined Shin Kong Life Insurance Co (新光人壽) NT$27.6 million (US$939,415) for a reckless investment that endangered its solvency, and suspended its chairman Eugene Wu (吳東進) for poor supervision. The penalty is the second-highest in a single case after Nan Shan Life Insurance Co (南山人壽) was fined NT$30 million in September last year and its chairman Du Ying-tzyong (杜英宗) suspended for two years, the commission said. In three rounds of special and regular examinations conducted since last year, the commission found that Shin Kong Life had given too much power to an asset and liability management committee
Continental AG, which makes control units for Daimler AG cars, cannot pursue antitrust claims against a group of patent owners, including Qualcomm Inc, which are seeking royalties on telecommunications technology, a federal judge in Texas ruled. Avanci LLC, a licensing pool formed by Qualcomm, Nokia Oyj, Sharp Corp and other owners of patents on technology standards, is not breaching antitrust laws when it negotiates license agreements with automakers rather than the component makers, Barbara Lynn, chief district judge for the Northern District of Texas, said in dismissing the suit in a decision posted on Friday. The licensing group charges US$15 per vehicle
Sony Corp has cut its estimated Play Station 5 (PS5) production for this fiscal year by 4 million units, down to about 11 million, following production issues with its custom-designed system-on-chip (SOC) for the new console, people familiar with the matter said. The Tokyo-based electronics giant in July boosted orders with suppliers in anticipation of heightened demand for gaming in the holiday season and beyond, as people spend more time at home due to the COVID-19 pandemic. However, the company has come up against manufacturing issues, such as production yields as low as 50 percent for its SOC, which have cut into
HEAVY INVESTMENT: Moody’s affirmed the firm’s ‘Aa3’ rating with a ‘stable’ outlook due to its leading position in the industry and ability to match customer requirements Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) revenue this year is expected to increase about 21 percent to NT$1.29 trillion (US$44.01 billion) from NT$1.07 trillion last year, driven by strong demand for advanced 5-nanometer and 7-nanometer chips mainly used in smartphones and high-performance computing devices, a Moody’s Investors Service report on Wednesday said. TSMC’s rate of revenue growth next year is to increase to 7.5 percent, the ratings agency said. The company, which supplies 5-nanometer chips for Apple Inc’s new iPad series, has introduced the advanced chips ahead of its competitors and gained a significant share of the market for the foundry industry’s