Taiwan Companies Returning From China to Home Base
Source:China Sport ShowRelease time:27-Nov-2019Clicks:
Article From：WFSGI NEWS ALERT
TAIPEI, Taiwan – Bicycle component manufacturer Glory Wheel Ent. and bicycle production machinery manufacturer Shuz Tung are two examples out of the bicycle industry of the total of 151 companies from a wide variety of sectors that applied for support at the Taiwan government to return their production from China.
Taiwan’s Ministry of Economic Affairs announced yesterday that it expects a total of NTD 200 billion (5.9 billion euro) of approved investments by Taiwanese companies moving their production back to their home country before the end of this year. The Ministry of Economic Affairs considers new investments as having materialized if the company has bought new land and equipment or has started construction of new factories. According to a report in the Taipei Times, about 55,000 new jobs will be created with this investment scheme.
Glory Wheel Enterprise Co.
Bicycle component manufacturer Glory Wheel Enterprise Co. plans to invest NTD 90 million (2.7 million euro) to expand its plant in Taichung’s Daya District. The company plans to develop its e-bike business. Today Glory Wheel supplies a comprehensive line of products including hubs, thru axles, headsets, bottom brackets and chain guides. The company operates two locations in Taichung. The main facility houses CNC production, laser etching, offices as well as a testing and assembly area. The second location includes the Keronite (KSG) finishing plant as well as more warehousing and packaging areas.
The second, though much bigger, application for an investment comes from machinery manufacturer Shuz Tung. The company wants to set up a smart manufacturing facility near its headquarters at the Central Taiwan Science Park which would focus on providing equipment for thin-film transistor liquid crystal (e-bike) displays and related packaging. Shuz Tung plans to invest a total of NTD 900 million (26.8 million euro).