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2020-06-18
InvesTaiwan convened a joint review meeting for the Action Plan for Accelerated Investment by SMEs this morning (18th), and approved the applications from 6 SMEs, including HippoValve Corp., Scan Top Enterprise Co., Ltd., Chin-Min Mold Processing Co., Ltd., EasTech Chemical, Sheng Hung Technology Co., Ltd., and Yu Cheng Food, to increase investment by a total of NT$1.1 billion. InvesTaiwan has convened a total of 45 joint review meetings for the Action Plan for Accelerated Investment by SMEs, and has approved investments of approximately NT$111.4 billion by 270 SMEs, which will create 10,848 domestic employment opportunities. As of this morning, the three major programs for investing in Taiwan has led 535 companies to invest approximately NT$1.294 trillion, which is expected to create 86,430 domestic employment opportunities.
HippoValve Corp. specializes in heavy industrial valves that can be used in the chemical, paper-making, petrochemical, air separation equipment, power plant, and water treatment equipment industries. It collaborates with other companies in selling its products to the United States, Japan, Europe, and Oceania under the brand “HIPPOVALVE.” The company does business with multinational companies, such as the Linde Group, which is the world’s largest air engineering company, Petronas, Total, and Taiwan’s China Steel and Dragon Steel. Due to its severely insufficient production capacity, the Company is unable to meet the market demand that is doubling every few years. The Company is thus planning to invest nearly NT$200 million to construct a new plant and laboratory in Daxi, Taoyuan City, accumulating R&D capabilities and developing more automated production processes. The Company aims to develop the world’s best butterfly valve, and elevate Taiwan’s status in the international heavy industry supply chain.
Scan Top Enterprise Co., Ltd. is mainly in the windshield wiper business, and has over 30 years of experience in the R&D of new products. The company has hundreds of international quality certifications and proprietary patented technologies in Europe, America, Japan, China, and Taiwan. Besides serving as a supplier for major international brands, such as TRICO in the United States, VALEO in France, MITA in Japan, TRIDON in Australia, and HEYNEY in Germany, the company also markets its products around the world under its own brands Bai Shi Jia and View Guard, and is the first choice of many international brands in the market. The Company has grown together with business partners in China for many years. However, tariffs were imposed on automobile parts due to the US-China Trade War, so the company plans to invest in Taiwan and manufacture and sell products in Taiwan, in hopes of creating a MIT windshield wiper kingdom to supply the global windshield wiper market in the future. The company will invest nearly NT$500 million to construct a new smart factory with smart assembly lines and IoT management equipment in Wujie Township, Yilan County, building Taiwan’s brand in the international market, while creating nearly 130 domestic employment opportunities.
Chin-Min Mold Processing Co., Ltd. specializes in the manufacturing of large precision molds. Its products include automobile related molds, prevision die casting molds, and aerospace parts. In light of the booming automobile and aerospace industries, additive manufacturing and 3D printing have a bright future. The company thus plans to invest over NT$100 million to add mechanical equipment and use smart production lines in its existing plant in Yongkang Technology Park to break through conventional processing barriers, and produce key parts and components with high added value. The company hopes to thereby respond to the market’s demand on high precision, high complexity, short product cycle, and transformation of the mold industry. This investment will create at least 13 domestic employment opportunities.
EasTech Chemical focuses on the production of vulcanizer products, which are important chemicals for the rubber, tire, and agricultural chemical industries. Since Southeast Asia is the world’s largest producer of natural rubber, demand on vulcanizer has grown as China moved in large numbers of rubber product factories. Taiwan is located at the transportation hub Northeast Asia and Southeast Asia, and has an advantage over Korean and Japanese enterprises with respect to transportation. Seeking breakthrough in its conventional labor-intensive production model, the company introduced advanced technologies to ensure that its processes comply with safety and environmental requirements, while increasing productivity. The company plans to invest nearly NT$90 million to build a new plant in Changhua Coastal Park, and develop smart production procedures and controls, in hopes of eventually developing an unmanned factory.
Sheng Hung Technology Co., Ltd. is a professional cover glass manufacturer with products ranging from optical coated glass to wafer support, which are extensively applied in 3C products, artificial intelligence, and 5G-related robots and driverless vehicles. The industry has good prospects and the company plans to invest nearly NT$200 million to build a new plant in Douliu Industrial Plant, and install a smart system to increase product yield. After the new plant begins operations in the future, it will develop high-tech 3D curved glass with high unit price, which can be used on the display of automobile electronics and multimedia display. The company will show Taiwan’s manufacturing capabilities in hopes of receiving purchase orders from AUO, LGD, Futaba, Hosiden, and SHOEI.
Yu Cheng Food is the first farm to obtain both humanitarian and animal friendly product certifications. The company uses humanitarian farming instead of high-density farming, implements product traceability, and obtained the functional feed mark by adding probiotics in feed. The company’s products offer four guarantees: selected, healthy, fresh, and safety. Besides selling products through the online platforms of Carrefour, PCHOME, Fooding, and SUPERBUY, as well as general distribution channels, the company also has long-term partnerships with restaurants and schools. The company created a new business model for chicken, and plans to recruit 24 domestic employees and invest over NT$100 million to vertically integrate the industrial chain, drive industrial transformation, and enhance its competitiveness. The company will build a slaughterhouse with cutting and packaging processes in Lucao Township, Chiayi County, integrate upstream farms and downstream logistics, and also develop new processed chicken products for consumers to enjoy the highest quality chicken.
Spokesperson of InvesTaiwan: Acting COO He Kun-Sung
Telephone: 02-2311-2031 Ext.: 808
Mobile Phone: 0966-533-987
Email: ksho@moea.gov.tw
Source: Department of Investment Services, MOEA
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