Stainless steel pipe manufacturer Froch Enterprise Co (彰源企業) is to invest more than NT$600 million (US$19.66 million) to set up a new plant in Yunlin County’s Douliou City (斗六), the Ministry of Economic Affairs said yesterday, as it added the firm’s application to the list of companies returning to invest in Taiwan.
A total of 154 companies have pledged up to NT$697.7 billion in investments since the ministry started a program in January to encourage Taiwanese firms to return and invest at home.
The ministry also announced that it has given the green light to four companies’ applications to invest more than NT$4.6 billion to take part in another government program aimed at encouraging local firms to deepen their roots in Taiwan while upgrading their businesses.
Taichung-based Gain How Printing Co (健豪印刷) plans to invest NT$1.3 billion by introducing smart production lines at a new plant in the Taichung Industrial Park (台中工業區) as it looks to sharpen its competitive edge, the ministry said.
As the trade conflict between the US and China weighs down on the steel industry, carbon steel pipe manufacturer Tension Steel Industries Co (天聲工業) plans to invest NT$1.2 billion by setting up a smart production facility to optimize and elevate its production process, the ministry said.
Wooden furniture hardware manufacturer Zyh Yin Enterprise Co (至盈實業), which supplies Swedish furniture retailer IKEA, is to invest more than NT$900 million by establishing a smart production plant in Kaohsiung’s Yanchao District (燕巢).
The company is also to transform its existing warehouse into a smart facility, the ministry said, adding that Zyh Yin would continue to work with the Industrial Development Bureau to apply artificial intelligence technology at its plant.
Automatic optical inspection specialist Machvision Inc Co (牧德科技), whose clientele covers about 90 percent of Taiwan’s printed circuit board makers, is to invest NT$1.2 billion to expand its production capacity at the Hsinchu Science Park (新竹科學園區) to support clients relocating to Taiwan, the ministry said.
The program, launched in July, has welcomed 24 companies’ applications, representing more than NT$54.1 billion in investments thus far, the ministry said.
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