TITLE

Mechanical Transmission Equipment Manufacturing

AUTHOR(S)
Wang Chung-ching
PUB. DATE
March 2013
SOURCE
TIER Industry Report - Mechanical Transmission Equipment Manufac;3/29/2013, p1
SOURCE TYPE
Industry Profile
DOC. TYPE
Industry Report
ABSTRACT
• Output and Sales: The global economic uncertainty and the depreciation of the yen augured ill for Taiwan's sales of mechanical transmission equipment. On the other hand, the sluggish performance of machinery industry in Taiwan also had a direct bearing on the domestic sales of machinery transmission equipment manufacturing industry. Therefore, the industry output and sales slipped 16.30 percent and 12.37 percent, respectively. However, with a rebound in domestic sales of the machinery industry in the first quarter of 2013, Taiwan would witness an increase in the domestic sales of mechanical transmission equipment industry, suggesting that the annual growth rates of both output and sales of the industry would shift away from the negative territory in the quarter. •Exports: The US fiscal cliff in the final quarter of 2012 prompted businesses to be cautious about investment. At the same time the euro zone debt woes continued to cause havoc on the global economic performance. To make matters worse, a precipitous fall in the yen led to a 17.82 percent year-on-year decline in the industry export value. Although the industry continues to face the prospect of a slide in export value in the first quarter of 2013, a strong rebound in the Chinese economy will ease the decline in the industry export value. •Imports: Demand for the industry slid on continued decline in sales of machine tools and special purpose machinery and equipment in Taiwan. Because of weak domestic demand, the industry witnessed a 26.53 percent year-on-year fall in the value of imports in 2012. The annual growth rates of import value would turn the tables in the first quarter of 2013, thanks to a pick-up in the machinery industry, spurring the industry demand for imports. Therefore, the industry imports would see growth in the first quarter of 2013, shifting away from the downward trend of the first quarter of 2012. •Operating Performance: The revenues of Chieftek Precision Corporation Limited and Hiwin Technologies Corporation fell 7.44 percent and 22.85 percent year-on-year, respectively, in 2012. The downward trend continued during January through February 2013. A rebound in demand for power tools boosted the revenue of Jabon International Corporation Limited by 137.14 percent year-on-year during January through February 2013. On the profit front, net profit of Hiwin Technologies Corporation dropped 47.40 percent year-on-year in 2012. Although Pro-Hawk Corporation suffered loss on a strong NT dollar, gross margin rose, pulling up the net profit by 29.30 percent year-on-year. •Industry Outlook: With a gradual turnaround in the global economy, demand for the industry will rise. At the sametime, the Taiwanese government is active in encouraging overseas Taiwanese firms to reinvest back in Taiwan, increasing significantly demand for machinery and equipment and boding well for domestic sales of mechanical transmission equipment industry. Therefore, the upward trend in the annual growth rate of the industry sales of the first quarter of 2013 will continue in the second quarter.
ACCESSION #
87417871

 

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