Machinery maker Hiwin Technologies Co (上銀科技) expects its annual sales to reach NT$20 billion (US$664.3 million) this year, up from last year’s NT$16 billion due to robust customer demand, company chairman Eric Chuo (卓永財) said yesterday.
Technological change can upend established markets, bringing smaller companies to prominence while giants fall. Just ask Nokia and Ericsson, the Scandinavian companies that once dominated the cell phone market. Richard Chen, chairman of Taiwan-based machine tool manufacturer YCM, says the movement to connect machine tools with computer networks to gain manufacturing insights could be as disruptive as the move from standard cell phones to smart phones – a movement that could carry Taiwan’s tool industry from price-based competition to prominence in the market.
Taiwanese companies are eyeing the Indian market with companies now offering cutting-edge products to India’s manufacturing sector.
Machine tools include lathes, boring bars, milling cutters, grinding machines and many other instruments, which are used to cut and shape metals or other rigid materials.
The Taiwan External Trade Development Council and Taiwanese machine tool makers have showcased industrial equipment at the ongoing Delhi Machine Tool Expo and said these can “contribute in the Make in India initiative".
Seeking to tap the huge Indian market, Taiwanese machine tool makers are offering their cutting-edge products for this country’s manufacturing sector, which is being aggressively promoted by the government.
The Indian Machine Tool Manufacturers’ Association (IMTMA) is to hold the second edition of its northern regional show — the Delhi Machine Tool Expo from August 10-13 at Pragati Maidan in New Delhi.
The expo this time will also focus …
The Taiwan External Trade Development Council (TAITRA, 外貿協會) yesterday opened its first Taiwan Expo in Vietnam’s Ho Chi Minh City in a bid to help Taiwanese firms expand their foothold in the Vietnamese market.
The event, which is scheduled to run until tomorrow, is the first TAITRA business-to-business exhibition to present only Taiwanese products in the country.
Inside almost every machine made by Taiwan’s top machine tool brands such as TONGTAI and FFG, one can often find numerous key parts made by Taiwanese parts makers. In fact, Taiwan’s machine tool parts manufacturers have played indispensable roles in the success of Taiwan’s machine tool industry.
Driven by improving demand and steady global economic recovery, the nation’s manufacturing output in terms of revenue is expected to grow 3.87 percent to NT$17.54 trillion (US$576 billion) this year, the Industrial Technology Research Institute’s (ITRI, 工研院) Industrial Economics and Knowledge Center (IEK, 產業經濟與趨勢研究中心) said yesterday.
The forecast was 0.67 percentage points higher than IEK’s previous estimate in April of 3.2 percent growth.