ITIS: Mold and Die Industry in Taiwan Falls Hard in 2008

Taipei, March 5, 2009 (CENS)--Despite the downturn in 2008, the mold and die industry in Taiwan will regain momentum in 2009, said K.C. Ho, industry analyst of the Industry & Technology Intelligence Services (ITIS) Program Office under the government-funded Metal Industries Research & Development Center (MIDC).

A ITIS surveys shows that Taiwan's mold and die industry saw overall production value reach NT$12.21 billion (US$348.85 million at US$1:NT$35) in the fourth quarter of last year, up 6.1% from the preceding quarter but down 12.3% year-on-year.

Ho attributed the year-on-year double-digit decline of the industry to the prevailing downturn and the stagnant demand from domestic customers in consumer electronics, automotive parts and precision machinery and devices.

The ITIS Program Office said the overall production value for the domestic mold and die industry declined by 11.8% year-on-year to reach NT$48.4 billion (US$1.38 billion) in 2008, for the biggest fall since 2000 when the tech bubble burst.

Although the global financial tsunami has impacted many industries worldwide, the large mold and die manufacturers in Taiwan can still maintain basic operations by subcontracting production to satellite firms.

Ho predicted the domestic mold and die industry will regain positive growth to reach NT$50 billion (US$1.42 billion) in output in 2009.