Auto-Parts Makers Tong Yang, Ta Yih Report Good Results for 2011

Taipei, Jan. 19, 2012 (CENS)--Major auto-parts supplier Tong Yang Industrial Co., Ltd., the world's largest maker of aftermarket (AM) plastic body-parts and an original equipment (OE) parts supplier, reported revenue gains in 2011.

In 2011, Tong Yang had registered pretax earnings of NT$1.4 billion (US$48.47 million), up 2.1% from 2010, and pretax earnings per share (EPS) of NT$2.63 (US$0.09).

According to Tong Yang, the rapid and sharp appreciation of NT dollar against greenback led to a foreign-exchange loss of NT$240 million (US$8 million) in 2010, but in 2011 generated some returns from the stable foreign-exchange rate.

Christie Wu, Tong Yang's president, pointed out that the mass production of sheet-metal parts with the newly expanded automatic production lines in late 2011 was instrumental in the profitable results in the 2011 yearend.

Strong demand for AM body-parts in North America due to snow storms in late 2011 also drove Tong Yang's sales, the company added.

Tong Yang's investments in China also reported lucrative returns in 2011. In the first 11 months of last year, Tong Yang's Chinese subsidiaries, joint ventures and affiliates together contributed pretax earnings of NT$1.06 billion (US$35.3 million) to the parent.

Ta Yih Industrial Co., the largest OE auto-lamp supplier in Taiwan, said that in the second half of 2011 its operation began shaking off the impacts from the devastating earthquake in Japan, which serious affected production of Japanese automakers and their overseas factories.

The second stage of the Economic Cooperation Framework Agreement (ECFA) between Taiwan and China will further cut tariffs on auto parts traded between the two parties, helping Ta Yih to win the chance to export auto lamps to GAIG-Fiat in China in 2012.