ROSY OUTLOOK:The company has received more orders this quarter on the back of rising labor costs in China and is investing heavily on building new factories
Date: May 19, 2015
By: Lauly Li / Staff reporter
Hiwin Technologies Corp (上銀科技), one of the nation’s major machine tool makers, yesterday posted a 3.55 percent annual decline in net profits for the last quarter due to foreign exchange loss, but the company expects growing demand for industrial automation to drive the next quarter’s business.
Hiwin has received more orders this quarter due to surging labor costs in China, company chairman Eric Chuo (卓永財) said.
To meet rising demand, Hiwin plans to expand production capacity, Chuo said.
“This quarter was good, but the next quarter will be even better as our new capacity for ballscrews and linear guideways will be in production,” Chuo said. [FULL STORY]