Goodway Group Aims for NT$10 B. Annual Sales in 2012

Taipei, Feb. 7, 2012 (CENS)--Goodway Group, one of Taiwan's leading manufacturers of CNC (computerized numerically controlled) machine tools, has recently announced a NT$5 billion investment plan for the Dapumei Industrial Park in Chiayi County, southern Taiwan.

One of the group's three major subsidiaries—King Way Mechantronic Co., established in June 2011 by member companies Goodway Machine Corp. and AWEA Mechantronic Co.,—will help the group enter a brand-new territory as it specializes in the development and production of high-speed engraving machines and CNC drilling/milling machines, expecting to help the Goodway Group to achieve annual sales of NT$10 billion in 2012.

Goodway has long concentrated on the development and production of CNC lathes and large double-column machining centers, and its Swiss-type CNC lathes can process large- and small workpieces, including those for Apple Computer's iPhone smartphones, tooth-transplanting machines, watches, shafts for windmills, railways, and ships.

Edward Yang, chairman of Goodway, says the group always focuses on development of innovative products based on core technologies. For instance, the group had spent over six years of R&D to complete the development of such popular products as vertical CNC lathes, Swiss-type CNC lathes, high-speed engraving machines and CNC drilling/milling machines.

Yang says the establishment of King Way will help the Goodway Group to raise product penetration, diversify markets and disperse operating risks, noting the global demand for CNC drilling/milling machines totals NT$100 billion per year. In the past, he believed the creation of King Way would help the domestic machine-tool industry sharpen competitive edge by reducing Taiwan's reliance on imports from Japan.