Hiwin Tech to Build Global Base in Taichung

Taipei, Sept. 15, 2008 (CENS)--Hiwin Technologies Corp., one of Taiwan`s leading manufacturers of linear-motion mechanical components, has resolved to set aside more than NT$7 billion (US$220.12 million at US$1:NT$31.8) to build a brand-new global operating, R&D headquarters and production base at the Taichung Precision Machinery Technology and Innovation Park.

Hiwin said it has begun small-batch production of ball screws and linear guideways at the park as its first-stage construction of a production site and delivery zone has been completed. The company predicted it has set a goal to see combined sales reach NT$10 billion (US$314.46 million) in 2009, helping it become one of the world`s top-three manufacturers of linear transmission components.

The Taichung Precision Machinery Technology and Innovation Park is owned by the Taichung City Government and is under development by the Taiwan Development Corp. The first-stage construction project for the Taichung machinery park began in 2005. A total of 92 firms have been approved to station at the park, 17 of which have begun construction of their own plants. Of them, Hiwin was the first to get license from the Taichung City Government to use the plant it has built up at the park.

Hiwin president Eric Y.T. Chuo noted his company has begun production of ball screws and linear guideways at the park, which will step by step boost the company`s overall sales. At present, the company secures NT$500 million (US$15.72 million) in monthly sales from the Taichung machinery park.

Chuo said his company will set aside NT$1.2 billion (US$37.73 million) to launch second-stage construction project, which will include the establishment of a global operating headquarters and a R&D center. The company estimated the second-stage construction will be completed within one year. At that time, Hiwin`s annual sales will be able to exceed NT$10 billion (US$314.36 million), becoming the first domestic manufacturer of machinery components to see annual sales reach over NT$10 billion.

Hiwin aid it would set up a premier production site at the Taichung machinery park by combing the unique enterprise culture it has owned, which will create a working environment filled with humanistic, comfort and living nature.

Chuo estimated the establishment of the new production site at the park will help create 2,000 job opportunities. The production site will be able to contribute US$800 million to Taiwan`s overall trade surplus annually.

Strategically, Hiwin has set a goal to become the world`s largest producer of ball screws, the world`s third-largest manufacturer of linear guideways and the world`s fourth-largest producer of robots.

(by Ben Shen)
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