Chin Fong's 2011 Sales in China Surpass That in Taiwan

Taipei, Feb. 13, 2012 (CENS)--Driven by increased investments in capital goods by automobile and electronics companies in China, Chin Fong Machine Industrial Co., Taiwan's leading manufacturer of metal-forming machines, posted NT$3.42 billion in sales from China operations in 2011, surpassing that registered by its headquarters in Taiwan at NT$2.52 billion for the first time ever.

Like Chin Fong, another domestic manufacturer in this line—Shieh Yih Machinery Industry Co.—also saw robust sales growth in China operations in 2011.

Chin Fong general manager T.Y. Chao says production expansions driven by economic growth in China by Taiwan's manufacturers of metal-forming machine tools will be mimicked by manufacturers of metal-cutting machine tools.

But such trend worries some domestic industry insiders who say that Taiwan's metal-forming machine tool industry will be hollowed out, calling for domestic manufacturers to develop high-value-added machines in Taiwan and diversify export markets.

Chin Fong scored NT$7.1 billion in consolidated sales in 2011, up 18.3% year-on-year and meeting its goal of NT$7 billion set in the beginning of that year.

While believing sales in China will continue to swell in the years to come, Chin Fong will persuade China's benchmark enterprises to adopt its high-tier pressing machines instead of those from competitors in Germany and Japan, which will help to raise its market share in China.

Chao says the company will continually develop high-tier servo pressing machines and provide total solutions to meet requirements of clients in China.