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Hiwin Technologies Saw March Revenue Surge 90% on Year

Running at nearly full capacity, the Hiwin Technologies Corp., a leading supplier of machinery parts as ball screws and linear motors in Taiwan, witnessed its sales revenue exceed the level of NT$1 billion to reach NT$1.083 billion in March, representing a 90% growth from NT$5.69 billion posted a year earlier.

So far, the company has raked in NT$2.88 billion in aggregate revenue for the first three months of this year, shooting up 95% from NT$1.475 billion recorded in the same period of last year.

To cope with incoming contract orders, the company has moved to boost its capacity by building two more factories in central Taiwan, both of which will become operational by the end of the year. The company noted that the two factories will contribute a 30% increase to its maximum output on the island when becoming fully operational.

Hiwin will also gain strong growth momentum from its newly developed linear motor system, which has been set for volume production since the beginning of April, with monthly output of 1,000 units. The product will boost the company`s presence in the industry of industrial robotic products.

One more good news for the company is that foreign buyers are likely to switch part of their orders for machinery parts and materials from Japan to suppliers in Taiwan and other countries after the 9.0-magnitude earthquake kinked Japan`s supply chain. Commanding a 10% share of the global market for linear guideways now, Hiwin is expected to snap up a part of the market share that Japanese counterparts will lose in the future, noted institutional investors.

Hiwin has captured contract orders valued at over NT$7 billion on hand so far this year, with a significant increase in orders from European, American, Chinese and local buyers. Benefiting from the launch of new products and increasing orders, the company is expected to challenge a new high of NT$1.2 billion in its single-month revenue during the second quarter of this year.

Taken from: CENS by Ben Shen 4/8/2011