Taipei, Nov. 1, 2012 (CENS)--Shieh Yih Machinery Industry Co., Ltd. vows to rank among the world’s top five manufacturers of metal-pressing machine tools in five years with consolidated revenue of NT$10 billion (US$344 million at US$1:NT$29), according to corporate chairperson, Y.H. Gou.
Gou noted that the 50-year-old company will begin to develop double-column servo presses with pressing force ranging from 600 tons to 1,200 tons for high-end car making and medical equipment industries. The machines will feature 30-50% electricity saving and double output.
By the end of this year, the company will release 400-ton double-axis servo presses, underscoring the company’s capability of making a wide range of servo presses and provide customers with complete solutions.
Anemic global market led to a 14.95% contraction of the company’s revenue for the first nine months of this year, at NT$2.5 billion (US$89 million), from the same period of last year. So far, the company has secured around NT$1.3 billion (US$44 million) of orders for delivery.
Regardless of the company’s loss from foreign exchange in the third quarter, industry executives still set a brighter shipment goal for the company in the fourth quarter than the third quarter.
While transforming itself into a servo-press maker from a manufacturer of traditional pressing machines, the company has driven up sales and earnings in recent years. In the first half of this year, the company made NT$0.64 per share in after-tax net income, rising from NT$0.4 per share it earned in the same period of last year.
Gou pointed out that the company has been vigorously developing presences in new markets after setting up sales operation in the United States and mainland China. The company has opened a branch in Germany as the base for its plan to tap deeper into the European market. Also, the company plans to open a branch in Thailand to shoot for shares in Southeast Asian market.
Gou said that although debt crisis is still haunting the European market, Europe’s old-economy manufacturers are scrambling to upgrade their business by using efficient and energy-saving machines.
In mainland China, the company has recently spent around RMB100 million (US$15 million at US$1:RMB6.3) to boost output at its factory in Kunshan of Jiangsu Province to 4,000 servo presses, with machines with force ranging from 300 tons to 4,000 tons accounting for 300 systems combined.
(by Ken Liu)