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Hiwin Technologies to Challenge US$314.46 M in 2010 Sales

Hiwin Technologies to Challenge US$314.46 M in 2010 Sales 
Hiwin Technologies Corp., Taiwan`s leading manufacturer of linear-motion devices, aims to challenge US$314.46 million in combined sales this year, said Hiwin chairman Eric Y.T. Chuo during presentations of the annual "Hiwin Thesis Award."

Known as the "Nobel Prize" in Taiwan`s machinery sector, the Hiwin Thesis Award has been held six times. This time, the gold and silver prizes were given to the National Taiwan University team and the bronze to the National Tsinghua University, with Hiwin handing out US$138,360 in cash prizes to the winners.

Hiwin is the world`s third-largest manufacturer of transmission-control devices and systems, aiming to become the third-largest in the near future, a goal it will attain by generating US$628.93 million in combined sales in 2011.

The company`s production equipment utilization rate nears 100% currently. With ample orders from the semiconductor, medical and biotechnology sectors, the company posted monthly orders exceeding US$22.01 million in the first quarter.

Chuo noted his group has mapped plans to build itself into a conglomerate with annual combined sales reaching NT$100 billion in the mid-to-long term. To meet such goal, the group will set up operating headquarters in the Taichung Precision Machinery Industrial Park that is to break ground by the end of April.

Taken from: (CENS) (by Ben Shen) 3/31/2010