Nylon composite specialist Nytex Composites Co (耐特科技) is to invest nearly NT$300 million (US$10.24 million) to develop its production capacities in Taiwan as part of the government’s Invest in Taiwan initiative, the Ministry of Economic Affairs said in a statement yesterday.
Eyeing the 5G and green energy-related markets, Nytex is planning a factory in Changhua County with a smart production center and a technical service center, the ministry said.
The company is the leading nylon composite material maker in Taiwan, supplying the automotive, medical, heat diffusion, sports and leisure, high-end office furniture, and bicycle sectors, making it “an important part of the supply chain” for those products, the ministry said.
The firm has production bases in Changhua and Shanghai, it said.
However, with more customers demanding products made outside of China because of concerns over tariffs, Nytex is to increase production in Taiwan, the ministry said.
Nytex has pledged to step up research and development on high-performance composite materials, while increasing the percentage of recycled materials it uses, the statement said.
THREE PROGRAMS
The Invest in Taiwan initiative assists small and medium-sized enterprises, as well as returning Taiwanese businesses, through three programs that provide favorable loan terms, talent and location scouting, and other assistance to attract investment back home, the ministry said.
To be eligible for the programs, projects must be high-value-added and non-polluting, it said.
So far, 651 companies have participated in the programs, pledging a combined NT$1.1 trillion in investments and creating an estimated 92,871 jobs, the ministry said.
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