Hiwin to Again Expand in 2015 to Seek Global Lead

Hiwin Technologies Corp. Chairman and Chief Executive Officer (CEO) Eric Chuo said his company, recognized as the world’s No.2 manufacturer of ball screw bearings and linear guideways, will again expand in 2015 to pursue the global lead by  2017.

The expansions cover the firm's new businesses of intelligent manufacturing system, industrial and medical robots, and aircraft-building equipment, said Chuo.

The expansions will enable the company to likely exceed THK Co., Ltd. to be world’s No.1 maker of the precision components for machines by 2017, around five years after it replaced NSK Ltd. of Japan as the world’s No.2 maker.

Hiwin must generate revenue of over NT$55 billion (US$1.8 billion) to outstrip THK, whose annual revenue is around US$1.6-1.8 billion.

The maker had Q3 consolidated revenue of NT$4.2 billion (US$141.7 million), surging 20.1% from a quarter earlier to a 7-year high. In the Jan.-Sept. period, the company raked in consolidated revenue of NT$10.8 billion (US$360 million), up around 26.2% year on year.

Industry executives project the company’s revenue to exceed NT$15 billion (US$500 million) in 2014. Based on October orders booked, they feel the company’s Q4 revenue could outperform that of Q3.

While the executives forecast Taiwan’s machine-tool industry to be flat in 2015, they believe Hiwin’s revenue could exceed NT$15.8 billion (US$527.3 million), the peak set in 2011, due chiefly to its investments in intelligent automation and industrial robot. (KL)