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Hiwin Technologies Corp. has announced Q1 consolidated revenue of NT$3.01 billion (US$100.4 million), increasing 26.9% from NT$2.37 billion (US$79.1 million) year on year, including NT$1.08 billion (US$36.1 million) for March, up 23.53% from the previous month and 30.98% year on year.

Company chairman and chief executive officer (CEO), Eric Chuo, attributes the handsome first quarter result mostly to sustained growth in demand for automation systems and industrial robots.

Strong market has driven up the company's deliveries of crossed roller bearings and other precision components. The maker is a sizable supplier of ballscrews.

Chuo, also chairman of Taiwan Machine Tool & Accessory Builders' Association (TMBA), says the company will begin in the second quarter to supply 10-plus high value-added solutions, including servo motors and bevel gears.

Chuo says that the island's machine-tool industry will definitely grow in the second quarter from the previous quarter and the same quarter of last year. The company's sales are looking good for the second quarter and even the third quarter thanks to strong demand for intelligent automation and industry robots. The company will inaugurate several crucial investment projects this year as part of its plan to achieve revenue of NT$30 billion (US$1 billion).

He says that many of the association's members have seen swarming orders from China's automobile and electronics industries as well as Europe's aerospace and auto industries. (KL)