Gov't Group Solicits NT$5.8B. in Investments from North Europe

Taipei, Oct. 30, 2012 (CENS)--A North Europe-bound investment soliciting group, led by Vice Economic Minister S. C. Cho, recently wound up its 7-day fruitful trip there, having solicited NT$5.8 billion (US$193.33 million) in investments to be launched in Taiwan by North European enterprises.

Cho said that during its stat in Europe, the group visited mainly the enterprises in Sweden and Finland in addition to attending bilateral annual meetings there. He emphasized that it's a good timing for the Taiwan group to visit Europe because many enterprises there are trying to diversify operations in Asia and to explore the market in the continent to lower their operating risk caused by the prolonged European debt crisis.

According Cho, Ericsson, the Sweden-based world's renowned cell phone maker, promised to beef up its investment in Taiwan. Atlas Copco, a Swedish maker of industrial tooling and equipment mainly air compressors, expressed intention of launching US$10 million to expand its operations in Taiwan by establishing a warehousing center on the island, which is aimed at conducting simple processes of the company's products for export to other countries in Asia.

SCA Group, also a Swedish maker of hygiene and paper products, has decided to invest more than US$100 million to set up a plant in northern Taiwan to turn out diaper and related hygiene products. After the completion of the projected plant, the group is reportedly to relocate its operations in Malaysia and mainland China to Taiwan.

In April of this year SCA spent over NT$9.3 billion (US$310 million) to acquire Everbeauty Corp., a prestigious local diaper manufacturer in Taiwan. Now the group is planning to make an additional investment of US$1 billion on the island.