Globe Union Sees Profits for 2007 Shoot Up 60%

Taipei, Feb. 12, 2008 (CENS)--Globe Union, Taiwan-based world-class designer and manufacturer of faucets, fixtures and accessories for kitchen and bathroom, raked in combined revenues of NT$22.5 billion (US$681.82 million at US$1 = NT$33) in 2007, with after-tax profits of NT$799 million (US$24.21 million) for a whopping annual rise of 60%.

In recent years the company has actively expanded its operations globally and has increased the number of its plants to 10, with six located in China and the remaining four sited in the United States, Canada, Germany and Mexico, respectively.

Today Globe Union has established nine companies in charge marketing its products that bear the company's 13 own brands. The company's products currently account for 3% of the U. S. bathroom hardware market and 4% of the European market. This year the company's revenues is estimated to grow to NT$25-26 billion (US$757.58-787.88 million) and its global market share may edged up by 0.5 of a percentage point.

To further enhance the global market share, Globe Union is planning to invest NT$100 million (US$3.03 million) to set up a kitchen cabinet factory in Shanghai in cooperation with a German firm this year to generate kitchen cabinet and hardware items. Next year the company will still focus its markets in the U.S., Europe and China, which are major contributors to the company's revenues.