Fair Friend Group Makes Major Presence at CIMT 2011

Taipei, April 14, 2011 (CENS)--Taiwan's leading manufacturers of machine tools are doing well at the 2011 China International Machine Tool Show (CIMT 2011), slated for April 11-16 at the China International Exhibition Center in Beijing. The biggest winner from Taiwan is the Fair Friend Group, the leading maker of wide ranging machine tools on the island, who landed NT$450 million on-spot orders on the first day.

Chairman Jimmy Chu says his group has raised this year's sales goal by between 10% and 18% to between NT$33billion and NT$35 billion from the original NT$30 billion. Occupying 700 square meters of booth or a quarter of the Taiwan pavilion, the group's machine-tool division is expected to generate NT$20 billion in sales in China this year, with the total to exceed NT$30 billion by 2012.

The group's Taiwan plant received NT$1 billion of orders in March, while the plants in China grabbed orders for 1,200 machine tools worth NT$2.2 billion. Overall the group landed orders for 1,800 machine tools worth NT$3.6 billion in March worldwide, up 85% year-on-year, with some NT$11.2 billion unfilled orders globally.

Fair Friend aims to challenge 10 billion renminbi, or NT$44.28 billion, in sales in China by 2018, having achieved 2.4 billion renminbi or NT$10.6 billion in sales in China last year.

Victor Taichung and Kao Ming landed NT$100 million and NT$50 million in orders, respectively on the first day. Based on the booming domestic-demand in China, Victor Taichung raised sales goal in China to NT$6.5 billion this year from the original NT$6.2 billion.

The world's fourth-largest and Asia's largest machine-tool show, CIMT 2011 has attracted 1,400 exhibitors from 28 nations, of which 83 are from Taiwan for a historic high.

Taiwanese exhibitors

1. Metal-cutting machine tools: Fair Friend Group, Victor Taichung Machinery Works Co., Yeong Chin Machinery Industries Co., Kao Ming Machinery Industrial Co., Dah Lih Machinery Industry Co., Tong Tai Machine & Tool Co., Far East Machinery Co., She Hong Industrial Co., Falcon Machine Tools Co., Wele Mechatronic Co., Kao Fong Machinery Co., Taiwan Takisawa Technology Co., Awea Mechantronic Co. and Goodway Machine Corp.
2. Metal-forming machine tools: Tailift Co. and Shieh Yih Machinery Industry Co.
3. Machine-tool components and accessories: Hiwin Technologies Corp., Keyarrow (Taiwan) Co., Habor Precise Industries Co. and GSA Technology Co.
4. Control devices: LNC Technology Co.