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Hiwin Doubles Sales to NT$12 Billion in 2010

Hiwin Group, Taiwan`s leading manufacturer of linear-motion devices, recently announced having posted annual consolidated sales exceeding NT$10 billion the first time to reach NT$12 billion in 2010, double the NT$6 billion in 2009 for a historic high.

Hiwin Technologies Corp., the flagship firm of the entire group, posted NT$8.21 billion in sales from Taiwan`s operations in 2010, up 146% year-on-year from NT$3.337 billion, with after-tax earnings per share of NT$7.5 in 2010, for a historic high.

The maker has orders exceeding NT$6 billion to be filled, with institutional investors predicting the Hiwin Group to see sales top NT$20 billion in 2011.

One of the world`s top-three manufacturers of balls crews and linear guideways, Hiwin has invested NT$500 million to construct a new plant in Yunlin Technology Park, central Taiwan, which will be completed by the end of this year and come online sometime in June. The new plant will help Hiwin to raise capacity in Taiwan by 30%, and create over 1,500 jobs.

Thanks to the production expansion, institutional investors predicted Hiwin will see sales grow over 40% year-on-year in 2011 with Taiwan`s operations able to challenge NT$11 billion in revenues.

Taken from: CENS by Ben Shen 1/21/2011