Motech Industries Inc (
The company "believes Tsuo will steer Motech to a bright future in light of his brilliant performance over the past years," the company said in a filing to the Taiwan Stock Exchange.
Motech did not reveal details of Cheng's health condition.
Tsuo, who joined Motech in the summer of 1999, will double as company president.
The change is not expected to have any impact on the solar cell manufacturer's expansion plans for this year.
Motech shares advanced 0.19 percent to NT$270.5 yesterday, while smaller rival E-Tone Solar Tech Co (
Motech yesterday reaffirmed its plan to boost annual output by nearly 60 percent to 280 megawatt by the end of this year from last year's 176 megawatt after securing sufficient new supplies of silicon wafers.
The company also plans to expand its annual capacity to 580 megawatt this year from 240 megawatt last year after adding new equipment to factories in Taiwan and Kunshan, China.
Motech said revenues climbed 92.34 percent to NT$15.58 billion (US$480 million) this year from last year.
Separately, silicon wafer supplier Wafer Works Corp (合晶) yesterday said it planned to launch a roadshow in Hong Kong for its affiliate Solargiga Energy Holdings Ltd before its initial public offering next month. Solargiga would be the first solar stock listed on Hong Kong's bourse.
The stock price of Wafer Works dropped 0.85 percent to NT$174 yesterday.
CAUTIOUS RECOVERY: While the manufacturing sector returned to growth amid the US-China trade truce, firms remain wary as uncertainty clouds the outlook, the CIER said The local manufacturing sector returned to expansion last month, as the official purchasing managers’ index (PMI) rose 2.1 points to 51.0, driven by a temporary easing in US-China trade tensions, the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday. The PMI gauges the health of the manufacturing industry, with readings above 50 indicating expansion and those below 50 signaling contraction. “Firms are not as pessimistic as they were in April, but they remain far from optimistic,” CIER president Lien Hsien-ming (連賢明) said at a news conference. The full impact of US tariff decisions is unlikely to become clear until later this month
With an approval rating of just two percent, Peruvian President Dina Boluarte might be the world’s most unpopular leader, according to pollsters. Protests greeted her rise to power 29 months ago, and have marked her entire term — joined by assorted scandals, investigations, controversies and a surge in gang violence. The 63-year-old is the target of a dozen probes, including for her alleged failure to declare gifts of luxury jewels and watches, a scandal inevitably dubbed “Rolexgate.” She is also under the microscope for a two-week undeclared absence for nose surgery — which she insists was medical, not cosmetic — and is
GROWING CONCERN: Some senior Trump administration officials opposed the UAE expansion over fears that another TSMC project could jeopardize its US investment Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is evaluating building an advanced production facility in the United Arab Emirates (UAE) and has discussed the possibility with officials in US President Donald Trump’s administration, people familiar with the matter said, in a potentially major bet on the Middle East that would only come to fruition with Washington’s approval. The company has had multiple meetings in the past few months with US Special Envoy to the Middle East Steve Witkoff and officials from MGX, an influential investment vehicle overseen by the UAE president’s brother, the people said. The conversations are a continuation of talks that
Alchip Technologies Ltd (世芯), an application-specific integrated circuit (ASIC) designer specializing in artificial-intelligence (AI) chips, yesterday said that small-volume production of 3-nanometer (nm) chips for a key customer is on track to start by the end of this year, dismissing speculation about delays in producing advanced chips. As Alchip is transitioning from 7-nanometer and 5-nanometer process technology to 3 nanometers, investors and shareholders have been closely monitoring whether the company is navigating through such transition smoothly. “We are proceeding well in [building] this generation [of chips]. It appears to me that no revision will be required. We have achieved success in designing
RSS