Mutual-Tek Industries Co Ltd (相互), which specializes in camera modules as well as rigid and flexible printed circuit boards, is to invest more than NT$3.3 billion (US$108.53 million) in the nation, the Ministry of Economic Affairs said yesterday as it approved the firm’s application to participate in a government-subsidized plan aimed at facilitating the return of Taiwanese companies.
Headquartered in New Taipei City’s Sinjhuang District (新莊), the company’s plans accommodate its customers by relocating some production capacity from a plant in China’s Jiangsu Province to Taiwan, the ministry said.
Mutual-Tek would set up a new plant and a research and development center in New Taipei City’s Taishan District (泰山), the ministry said, adding that the move would create about 200 job opportunities.
So far, 152 returning Taiwanese companies are to invest NT$627 billion, of which NT$200 billion is expected by the end of the year, the ministry said.
In related news, the ministry yesterday approved applications from Xia Shin International Co Ltd (廈興國際) and Fu Hwa Mirror Co Ltd (福華明鏡) to invest more than NT$500 million combined as the two firms participate in another government program that encourages local companies to deepen their roots in Taiwan while helping to upgrade and transform their business.
Xia Shin, which manufactures outdoor furniture and fences, plans to invest NT$400 million by establishing a new plant in Tainan’s Rende District (仁德) as it looks to become more competitive in the US market, the ministry said.
The project should create 97 job opportunities, it added.
Rearview mirror supplier Fu Hwa, which counts General Motors Co, Volkswagen AG and Toyota Motor Corp among its customers, is to invest more than NT$100 million by expanding its existing production facility at the Changhua Coastal Industrial Park (彰濱工業區), the ministry said.
The company also plans to introduce laser cutting machines and other automated equipment at its other plant in Changhua County’s Fusing Township (福興), as it aims to improve production efficiency.
The ministry said that the company’s new investment would create 10 job opportunities.
Since its July launch, the program has brought in more than NT$27.8 billion in investments from 18 local firms, creating 1,887 job opportunities, it said.
Polytronics Technology Corp (聚鼎科技) yesterday announced that it is buying Henkel AG’s thermal clad dielectric material (TCLAD) business division for US$26 million as the Taiwanese firm aims to improve its technology, product portfolio and revenue performance. Polytronics, headquartered in the Hsinchu Science Park (新竹科學園區), is a supplier of protection components and heat dissipation materials. The firm entered the metallic heat-dissipation substrate market in 2007 and developed a unique solventless production process. Its board of directors approved signing an agreement with Henkel to acquire the German chemical firm’s TCLAD division in the US. The purchase includes all assets and business interests, including equipment,
SIZE MATTERS: Medium-sized hotels that do not have the support of parent groups are more vulnerable and are forced to take action, a REPro Knight Frank researcher said About 50 hotels across Taiwan are seeking to exit the market as they succumb to the bleak business outlook amid international travel restrictions imposed to combat the COVID-19 pandemic. Yomi Hotel (優美飯店) on Minsheng E Road, Sec 1, in Taipei is seeking to transfer ownership with an asking price of NT$950 million (US$32.15 million) and a pledge for a lease contract that guarantees a 3 percent return. The budget hotel, with room rates that start from NT$1,400 per night, maintains normal operations, but has been struggling since March, when the government placed restrictions on inbound and outbound travel. Occupancy rates for hotels in
‘SENSITIVE MARKETS’: The previously unannounced project would involve the company handing over control of data to a third party to sidestep privacy concerns Google has abandoned plans to offer a major new cloud service in China and other politically sensitive countries due in part to concerns over geopolitical tensions and the COVID-19 pandemic, two employees familiar with the matter said, revealing the challenges for US tech giants to secure business in those markets. In May, the search giant shut down the initiative, known as “Isolated Region” and which sought to address nations’ desires to control data within their borders, the employees said. The action was considered a “massive strategy shift,” said one of the employees, who added that Isolated Region had involved hundreds of employees
GOGOROS TO GO: The scooter maker’s CEO said that the electric vehicles ‘are the perfect complement to a program designed to stimulate the Taiwanese economy’ Minister of Economic Affairs Wang Mei-hua (王美花) yesterday announced a draw to encourage people to claim their Triple Stimulus Vouchers digitally. The prizes include movie tickets and 25 electric scooters donated by Gogoro Inc (睿能創意), Wang said. The Ministry of Economic Affairs said that it would hold a scooter draw every day for the next 10 days, beginning yesterday, after which there would be a draw every week for 15 weeks. The first winner was a Taiwan Cooperative Bank (合庫銀行) credit card user, the ministry said. The benefits of claiming the vouchers digitally extend beyond the draws, with many businesses offering special deals for