KUALA LUMPUR — Metaltech 2014, Taiwan’s machine tool industry and accessory builders’ association (TMBA) and the Chinese Fluid Power Association will be showcasing 254 international brands, in Kuala Lumpur this month.
Taiwan’s deputy secretary-general of TMBA, Juan Chang-Mao, said the machine tool industry is an important pillar of Taiwan’s economy to showcase the latest machines and outstanding research and development (R&D) department.
“A total of 567 exhibitors from 44 countries will participate and 43 of which are from Taiwan. One company from Malaysia will also participate, and it is under Tongtai group which has its parent company in Taiwan,” Juan said.
Juan said this US$5.43 billion (RM17.4 billion) a year industry with 80 per cent of the output bound for export, cementing Taiwan’s position as the fourth largest exporter of machine tools in the world.
Juan said this exhibition is the first to be held in Malaysia, and its aim is to focus in middle class small and medium enterprises (SMEs) especially in the automotive and manufacturing sectors.
“We hope to increase the target sale in Malaysia and as a hub to expand Taiwan’s machines and tools to the other Asian region as well,” Juan said during a press conference yesterday.
Taiwan wants to maintain and to improve the standard our products and to sell them at a reasonable price, he said.
Juan also said this industry is expected to see a growth of 15 to 20 per cent this year as the world economy sees steady growth, and growing demand in emerging countries such as India, Thailand and Malaysia.
This will enable the Taiwan machine tools industry to achieve sustained growth in both output value and exports.
Juan also added the development strategy and vision in the Malaysian machine tools market are identifi ed by the Malaysian government as part of the plan to turn the country into a high income nation in 2020.
“With our machine tools, Malaysia will be able to increase the volume of their production and to expand business opportunity nationwide,” said Juan.
To date, one of Taiwan’s parent company named Tongtai has a joint venture with local partner Asahi.
Tongtai has 20 years of experience in Malaysia’s market and has helped other SME business increase their sales and marketing as well as provide training programme.