Taiwan's Machine-tool Firms See Big Sales at IMTEX 2011

Taipei, Feb. 17, 2011 (CENS)--Taiwan's leading machine tool makers, including Tongtai Machine & Tool Co., Falcon Machine Tools Co., Fair Friend Enterprise Co. and Hiwin Technologies Corp., all achieved good results at the IMTEX 2011, the 15th Indian Metal-cutting Machine Tool Exhibition held Jan. 20-26 at the Bangalore International Exhibition Center (BIEC) in Bangalore, India.

According to statistics compiled by the Taiwan Association of Machinery Industry (TAMI), Taiwan exported US$16.725 billion of machinery last year, 3% or US$500 million going to India, up 57.5% year-on-year. The Association predicts Taiwan will export over US$1 billion of machinery to India in 2011.

Looking to the bright prospects of the Indian market, Fair Friend aims to set up a plant in cooperation with Cosmos Co. of India. The proposed plant will focus on the production of mid-level vertical machining centers and lathes, with initial investments to reach US$10 million.

Fair Friend chairman Jimmy Chu says his company received orders for 30 machine tools totaling NT$50 million in India in January, double that of last year. Far East Machinery Co., Taiwan's leading manufacturer of large machine tools, recently set up a distributor in India with an Indian partner, aiming to tap the promising market.

TAMI president C.C. Wang noted the IMTEX 2011 is the most promising since the association began organizing exhibitors to take part in 1988. A Taiwanese participant at the IMTEX 2011 said manufacturers of machine tools can gain a big chunk of the Indian market provided they keep enough inventory for delivery within two months.

Wang said Taiwan-made mid- and high-tier machine tools can better compete in India, with Chinese and Indian counterparts still concentrating on mid- and low-end ones.