Cairo, November 26, 2014 – In a strong endorsement to Egypt’s recovering economy, Taiwan announced today its participation in MacTech 2014, which launches on 27 November for four days, as the largest country pavilion in the exhibition; and with the participation of leading companies in the metalworking industry from Taiwan.
Organized by the Bureau of Foreign Trade (BOFT), the Ministry of Economic Affairs, and the Taiwan External Trade Development Council (TAITRA), Taiwan’s pavilion reflects its growing machine tools industry exports to Egypt, which shows a significant market share increase of 13.1% in 2013 vs. 2.3% in 2011.
“Taiwanese machine tool industry pushes more into the high-tech segment. Taiwan is home to many cutting edge products, including machinery and machine tools manufacturing”, said Mr. Robert Hsiao, Director of the Taiwan Trade Center in Cairo.
“Taiwan’s machine tool industries have been instrumental in assisting Egypt’s commodity and other industries improve quality and competitive, mainly in the consumer, home appliances and plastic processing industries, with the later being a core industry in Egypt”, added Mr. Hsiao.
Taiwan was the world’s fourth largest exporter of machine tool products in 2013, and is expected to become the world’s third largest machine tool exporter after Japan and Germany, with nearly 80% of the machine tool output is being exported.
Egypt, on the other hand, is the largest regional consumer of machine and industrial tools with a market size exceeding US$ 2 billion. Industrial production in Egypt is growing at over 25% per year; and imports of modern technology continue to increase at an annual rate of 20%. Currently, about 60 Taiwan machine tool vendors sell their products to Egypt – more than any other country – due to cutting edge innovations and competitive pricing.
“Looking ahead, Taiwan and Taiwan’s machinery industry will profit from its maturity, aggressive innovation and continuous branding to stay ahead of the curve. Taiwanese manufacturers dedicate themselves to a higher added value, an optimized customer service, improved environmental friendliness and constant refinement. Through these endeavors, Taiwanese machinery will distinguish itself and lead other industries, driving the perpetual growth of both Taiwan and its partners,” said Mr. Timothy Tso, Deputy Director of Market Development department of TAITRA Taiwan Headquarter.
Visitors at the Taiwanese pavilion at MacTech 2014 will have a unique opportunity to explore world class innovation and technology showcased by 10 Taiwanese companies, of which two presented their products at the press conference:
Victor Taichung Machinery Works, Ltd has 4 manufacturing plants in Taiwan and 2 in China to produce 120 sets CNC lathes, 60 sets machining centers and 70 sets PIM machines monthly. With a working capital of 35 million USD and 825 employees around the world, the company’s sales turnover reached USD 143 million in 2013; with 60% for overseas markets, mainly China, Europe, Russia, South East Asia and South Africa. Founded in 1954, Victor Taichung has a worldwide network; and 8 overseas subsidiaries in Germany, France, UK, USA, South Africa, Malaysia, Thailand and Indonesia.
Tongtai Machine & Tool Co., Ltd is ranked 1st among Taiwan machine tools makers; and 53rd in the world, with more than 60 overseas agents and 20 branches worldwide.
With their strategic alliance with Honor Seiki, APEC, and Quicktech, Tongtai’s products expanded to large size vertical lathes, large size cross-track type high speed five-axis machining centers; and small size high speed precision CNC lathes. Tongtai’s products in the metal cutting domain provide comprehensive solutions for customers.
About MacTech 14th Edition
MACTECH 2014 launches its 14th edition in the Cairo International Conference Center for four days from 27 – 30 November, to show case the latest in metal forming, machine tools, industry tools, welding and cutting equipment. With 30% increase in exhibitors over last year, the exhibition hosts more than 1000 brands in 2014, introducing its products and latest innovations under leading international brand labels.