Yeong Chin Machinery Ties Up With Excetek, Yong Ju Precision

Taipei, Aug. 11, 2009 (CENS)--Yeong Chin Machinery Industries Co., one of Taiwan's leading manufacturers of CNC (computerized numerically controlled) machine tools, recently announced it has formed a strategic alliance with Excetek Technologies Co. and Yong Ju Precision Technology Co. for sharing resources and distribution channels.

Excetek is a specialized manufacturer of CNC EDMs and Yong Ju concentrates on the production of vertical machining centers and bridge-type machining centers.

Taiwan is the world's fourth-largest machine-tool exporting nation with 2,100-strong manufacturers, over 70% of which aggregate in central Taiwan. Affected by the global financial tsunami, many domestic manufacturers in this line are considering launching resource integration or making business integration.

Thanks to the formation of the strategic alliance, Yeong Chin predicted it would be able to increase annual sales by approximately NT$3 billion (US$91.74 million at US$1:NT$32.7), helping it march toward the annual revenue goal of NT$10 billion (US$305.81 million).

Based in Shenkang of Taichung County, central Taiwan, Yeong Chin was established 55 years ago and has grown as one of Taiwan's largest manufacturers of mold-making machine tools with major products including vertical, horizontal and double-column machining centers and CNC lathes.

Capitalized at NT$530 million (US$16.2 million), Yeong Chin markets its products under the "YCM" brand. The company scored combined sales of NT$4.6 billion (US$140.67 million) last year, almost the same as the previous year. The company plans to float shares on the Taiwan Stock Exchange in three years.

Specialized in the development and production of CNC wire-cut EDMs, Excetek scored NT$200 million (US$6.11 million) in sales last year. Yong Ju has expertise in making large-sized column-moving double-column machining centers. Yeong Chin said the formation of strategic alliance with Excetek and Yong Ju will generate multiple effects of sharing product lines and distribution channels. The three partners will join hand-in-hand to take part in the 2009 EMO show, slated for Oct. 5-10 in Milano of Italy.