Hiwin Technologies’ Sales Hit New High in First 3 Quarters

Taipei, Oct. 12, 2011 (CENS)--Hiwin Technologies Corp., Taiwan’s leading manufacturer of linear-motion devices and ball screws, saw sales reach NT$1.354 billion and NT$10.339 billion in September and the first three quarters, respectively, both historic highs.

Hiwin’s outstanding performance this year has beaten expectations of foreign institutional investors, who believe Hiwins’ sales to domestic and overseas customers will decline due to waning demand in China for machine tools since the beginning of the second half.

Increased capacities created from several new plants will enable Hiwin’s annual sales reach over NT$15 billion.

Over the past several years Hiwin has been diversifying markets to cut operating risks. For instance, it has sold ball screws to the world’s big manufacturers of coffeemakers and wet paper towel production equipment, rather than concentrating on customers from the machine-tool sector. The successful market-diversification, Chuo, the chairman, will help the company achieve promising results in the fourth quarter.

Hiwin recently confirmed having received big-ticket orders from Heller, DMG and FESTO of Germany, to be filled starting in 2012.

Chuo said Taiwan will very likely replace Italy as the world’s third-largest producer of machine tools this year. Statistics compiled by the association show Taiwan’s production value of machine tools will exceed US$7 billion in 2011, up 40% from the preceding year.