Taiwan's Machine-tool Firms Attend SIMTOS in Seoul

Taipei, April 18, 2012 (CENS)--Taiwan's major manufacturers of machine tools, including Victor Taichung Machinery Works Co., Fair Friend Group, Tongtai Machine & Tool Co., Awea Mechantronic Co., Goodway Machine Corp., Hota Industrial Mfg. Co., Kao Fong Machinery Co. and Falcon Machine Tools Co., are attending the 14th SIMTOS (Seoul International Machine Tool Show) in Seoul, South Korea April 17-22.

An industry insider in Taiwan said South Korea has become one of the world's major consumers of machine tools, attracting many manufacturers of machine tools and components to tap the market.

To take advantage of the global economic recovery, Taiwan's big machinery associations, including the Taiwan Association of Machinery Industry (TAMI) and Taiwan Machine Tool & Accessory Builders' Association (TMBA), have formed groups to take part in the SIMTOS.

TAMI's chairman Hsu Hsiu-tsang noted that South Korea was Taiwan's 10th-largest export outlet for machine tools last year, with TAMI's statistics showing Taiwan had exported US$91.34 million of machine tools to South Korea in 2011, up 14% year-on-year and accounting for 2.6% of the island's total export of the products.

TMBA director general Huang Chien-chung noted that there remains ample room for Taiwan's manufacturers of machine-tool components to develop the South Korean market, which has advantages in manufacturing machine tools but still relies on imports of foreign-made components.