Global PMX Co Ltd (智伸科), a provider of precision machinery processing services, yesterday said its new plant in China’s Zhejiang Province is to start mass production this quarter to meet growing customer demand for automotive parts.
The facility is to manufacture car components for the firm’s existing customers, said a company official, who asked to remain anonymous.
Global PMX counts several global car components suppliers — such as Continental AG, Bosch Co and BorgWarner Inc — among its top customers.
The official declined to elaborate on the details of the new product lines, citing a non-disclosure agreement.
Global PMX operates a plant in China’s Guangdong Province and another in Zhejiang, accounting for more than 90 percent of its total sales.
Headquartered in New Taipei City, the firm produces a wide range of car components for customers worldwide, including mechanical parts used in high-pressure pumps, anti-lock braking systems and dual-clutch transmissions.
Company data showed that revenue generated by the company’s car components bsuiness comprised 66.5 percent of total sales in the first quarter, up from nearly 60 percent in 2015, while the electronics storage segment shrank from 22.2 percent to 14.99 percent.
The company gave a bright outlook for the second half, saying that it is targeting double-digit sales growth this year, aided by positive sentiment in the global automotive industry.
The optimistic forecast came after the company yesterday reported accumulative revenue of NT$2.21 billion (US$73.11 million) in the first seven months of the year, a 9.94 percent increase from NT$2.01 billion in the same period last year.
Last month, sales soared 15.7 percent annually from NT$284.8 million to NT$329.5 million thanks to increasing orders for certain car components to ensure car safety, the firm said in a statement.
The company also expects electronic brake systems and turbo-chargers to be its sales drivers, due to growing demand for energy-efficient components, it said.
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