FOOD & BEVERAGE
Hey Song capital cut passed
Shareholders of local soft-drink supplier Hey Song Corp (黑松) yesterday approved the company’s plan to cut capital by 25 percent, or NT$1.34 billion (US$44.61 million), to improve its return on equity. After the capital reduction, the company’s total paid-in capital will drop to NT$4.02 billion, Hey Song said in a press release yesterday.
Everlight EU bid approved
Everlight Electronics Co (億光電子), the nation’s top LED chip packager, yesterday said its board of directors approved a proposal to acquire a Europe-based lighting company for less than 10 million euros (US$13.13 million). Everlight said chairman Robert Yeh (葉寅夫) had not yet signed the contract with the European firm. The investment is aimed at helping the company expand its sales channels and businesses in Europe, a filing submitted to the Taiwan Stock Exchange yesterday showed.
Ginko eyes China for sales
Ginko International Co (金可國際), a leading maker of contact lenses and lens-care solution, expects revenue to grow strongly this year on the back of rising sales of contact lenses in China. Currently, only 5 percent of near-sighted people in China wear contacts, much lower than the 25 percent seen in other Asian countries, Ginko said. Furthermore, the company expects revenue will rise as more Chinese lens wearers shift to daily contacts from monthly ones, it said.