Hiwin Aims to be No. 2 Maker of Transmission Systems in 2012

Taipei, Jan. 17, 2012 (CENS)--The Hiwin Group recently announced the goal to be the world's No. 2 manufacturer of transmission systems in 2012.

Hiwin Group chairman Eric Y.T. Chuo is cautiously optimistic towards the second half, despite unclear signs in the first half. Driven by orders from overseas sales agents, Chuo said his company will likely challenge the world's second-largest producer of transmission systems this year.

The group's two major subsidiaries, including Hiwin Technologies Corp. and Hiwin Mikrosystem Corp., saw sales and earnings hit new records in 2011.

Hiwin Group's German branch saw sales exceed 60 million euro in 2011, and has recently procured 288,000 square feet of land near the existing plant in Offenbach to build a new plant.

In addition, the Hiwin Group will apply for building a new 3.6 million square foot plant at the Central Taiwan Science Park by the end of February, officially kicking off a second round of a NT$10 billion investment project in Taiwan. The Group will inaugurate a new operating headquarters in the Taichung Precision Machinery Park in March or April this year, with plans to expand production at the Taichung Industrial park and Taichung Precision Machinery Park this year.

Hiwin registered NT$14.134 billion in sales in 2011, up a whopping 72.16% year-on-year for a record high, with Hiwin Mikrosystem scoring NT$1.242 billion in 2011 sales, up 10% year-on-year.

In 2012, Hiwin will launch innovative products as single-axle specialty motors and drivers as well as specialty bearings.

Chuo said the cross-Taiwan Strait ECFA (economic cooperation framework agreement) is working for domestic machine-tool manufacturers to allow duty-free shipment to China of ball screws, linear guideways and CNC lathes from the beginning of this year.