The InvesTaiwan Service Center on Friday approved Kenmec Mechanical Engineering Co’s (廣運機械工程) planned investment of NT$600 million (US$21.67 million) to construct new manufacturing facilities in New Taipei City’s Rueifang Industrial Park (瑞芳工業區), the Ministry of Economic Affairs said.
The investment comes as the factory automation and thermal solution service provider is seeking to meet robust demand from clients amid a global smart manufacturing and industrial automation trend, the ministry said.
The plan is part of Kenmec’s efforts to enhance manufacturing capabilities and provide total solutions to Taiwanese and global clients, the ministry said, adding that its clients are in the electronics, plastics, chemicals, textile, food and cold chain logistics industries.
Photo: Chang Hui-wen, Taipei Times
Kenmec would use the investment to install new production equipment and lines at the new manufacturing facilities, the ministry said, adding that the firm would also create 111 new jobs.
Kenmec, established in 1976, operates facilities in Taiwan, China, Thailand and Vietnam.
It reported consolidated revenue of NT$4.08 billion last year, down 5.3 percent from NT$4.3 billion in 2020.
Kenmec was one of eight local companies that on Friday obtained the center’s permission to join the government’s three major programs under the Invest in Taiwan initiative, the ministry said.
The approved investments total NT$4.3 billion and come from Kenmec, as well as chemical materials supplier Kanto-PPC Inc (關東鑫林科技), Precision Chemtech Co (耀儒科技), Lasting Polyfoam Co (常宏保麗龍), Dr Oxford Biotech Factory Co (歐思佛生物科技) Yu-Ho Foods Co (裕賀食品) and others, the ministry said.
As of Friday, the center had approved 1,152 applications from Taiwanese businesses to invest a total of NT$1.63 trillion through the three incentive programs launched in early 2019, the ministry said.
The investments are expected to generate 129,310 new jobs, it said, adding that 29 firms are awaiting approval.
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