March 25, 2008 -- Taiwan’s most profitable machine-tool manufacturers, including Goodway Machinery Co. and Awea Mechantronic Corp., will jointly set up an assembly plant in Vietnam.
The proposed plant will focus on the production of double-column machine tools, C-type machine tools and lathes with an aim to penetrate the ASEAN (Association of Southeast Asian Nations) unified market. Each of the two companies will invest $1 million to $2 million to set up the assembly plant in Vietnam. Both companies have opted for 36,000 square feet in Hanoi, northern Vietnam to set up the new plant, which will start to be built in the second quarter of this year and will be completed by the middle of next year. In addition to CNC (computerized numerically controlled) lathes, Goodway will introduce some new models of machine tools, including Swiss-type vertical lathes, box-way vertical machining centers, in the second quarter of this year.
Awea currently has $65.57 million worth of orders in hand with order visibility exceeding seven months. Goodway has $26.22 million worth of orders in hand with order visibility extending for over three months. Each of the two companies will see sales grow over 20% year-on-year this year.
Abstracted from Taiwan Economic News
