Tong Yang Industrial Co.,Ltd.,the largest auto-parts manufacturing conglomerate in Taiwan,recently announced that it would invest US$9 million in setting up a new factory in Yongheng,Foshan,Guangdong Province of China.
The new facility is expected to kick off production of automotive plastic parts in September 2013,at the center of auto-parts industry in Guangdong Province.
Tong Yang Group already operates 17 subsidiaries and joint ventures in China.In the first seven months of 2012,the group`s Chinese reinvestment revenues(not included in its consolidate revenues)was NT$7.2 billion(US$240.6 million),translating into pretax earnings of NT$388 million(US$12.9 million).
In conjunction with the establishment of a new factory in Foshan,industry sources said,Tong Yang`s business deployment in China is expected to become more comprehensive.
Tong Yang is now the world`s largest supplier of automotive plastic bumpers.The group has been aggressively developing sales in both original equipment(OE)and aftermarket(AM)markets.Over the past two years,Tong Yang has continuously set up several new factories and joint ventures,including the Changsha GAIG-Tong Yang in Changsha,Hunan Province with Guangzhou Automobile Industry Group Co.,Ltd.(GAIG),which is scheduled to kick off mass production in the third quarter with annual capacity of 400,000 sets for supplying to GAIG-Mitsubishi and GAIG-Fiat;Changchun Faway Tongyang Automobile Plastics Components Co.,Ltd.`s new factory in Foshan,Guangdong Province with annual capacity of 300,000 sets;and a new subsidiary in Xiangyang,Hubei Province to produce mainly electro-plated products,with the new facility scheduled to start mass production in September 2013 with planned annual capacity of some 400,000 to 450,000 units/sets.Tong Yang`s new Xiangyang factory is the group`s 18th(self-owned or joint-venture)one in China,supplying auto parts to Chinese automakers such as Dongfeng,GAIG Mitsubishi,and Chengzhou Nissan etc.
After both new factories in Xiangyang and Foshan kick off mass production in the third quarter of 2013,Tong Yang`s annual global production capacity of plastic bumpers will hit some 20 million units,further consolidating the group`s leading position of its kind.
