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Hiwin`s Consolidated Sales May Top NT$20 B. in 2011

Taipei, Nov. 2, 2010 (CENS)--Thanks to mass production launched in Taichung Precision Machinery Park and Yunlin Technology Park, Hiwin Technologies Corp., Taiwan`s leading manufacturer of linear-motion devices, will see consolidated sales top NT$20 billion (US$65.57 million at US$1:NT$30.5) in 2011, up 65% year-on-year.

Because of the inauguration of the new production facilities in Taichung and Yunlin, Hiwin will have to hire 1,500-odd workers within the next one year.

Eric Y.T. Chuo, chairman of Hiwin, said his company will, in 2012, kick off a five-year plant construction plan on a land space of 45,000 pings (one ping equals to 36 square feet) in the Chiayi-based Dapumei precision machinery park. The company will invest approximately NT$30 billion to carry out the plan.

Thanks to the recovery of machinery, automobile, solar energy and medicare industries worldwide, Hiwin will see consolidated sales hit a historic high of NT$12 billion this year. Of this, Hiwin parent in Taiwan will score NT$10 billion in sales, exceeding archrival THK of Japan to challenge the position as the world`s second-largest manufacturer of ball screws.

Hiwin is the most profitable listed firm of the electric-machinery category of the Taiwan Stock Exchange with after-tax earnings reaching NT$4.84 per share in the first three quarters of this year, up 8.5-fold from NT$0.51 year-on-year.

At the Japan International Machine Tool Fair recently held in Tokoy, Hiwin used 24 booths, making it the largest exhibitor from Taiwan. The fair attracted 576 exhibitors using 4,966 booths.

Due to the sharp appreciation of the Japanese yen against the U.S. greenback, many Japanese machinery manufacturers are scrambling to Taiwan to procure price-competitive machinery parts to facilitate their production. At the fair, Hiwin received a lot of big-ticket orders from Japan`s leading machinery manufacturers.

To expand production capacity, Hiwin is speeding up the pace of plant construction. For instance, in the second quarter of 2011 it will begin mass production of a 6,000-ping plant in the Taichung Precision Machinery Park. The expansion project for its plant in Yunlin Technology Park will begin later this month. Its subsidiary--Hiwin Mikrosystems Co. is scheduled to launch production in the third quarter of next year.



Taken from: CENS.com by Ben Shen 11/2/2010