CHICAGO, Sept. 10, 2012 (GLOBE NEWSWIRE) -- The growing power of Taiwan's machine tool industry will be on display at IMTS 2012, the world's leading international manufacturing technology show. Taiwan is the world's fourth largest exporter of machine tools and ranks sixth overall in global production with sales of US $5 billion.
Companies from Taiwan will showcase their latest products throughout the show and in a special Taiwan Pavilion in Hall N-7072, featuring 15 leading companies from the island nation. HIWIN, one of the featured companies, will introduce two new products: the Rolcrew™ ballscrew and the QR Series Linear Motion Guideway with SynchMotion™ technology.
Other product displays include AccuteX Technologies' "Straight Cutting" Wire cut EDM, SOCO Machinery's3 Axis Tube and Bar Cutting Line, and Fair Friend Group'sU-600 5 axis vertical machining center and EH-320 horizontal machining center.
"There are more than 500 machine tool manufacturers in Taiwan and it is the country's most important industry by value," explained Mr. Yueh-Chyou Wen, Director of Taiwan Trade Center in Chicago. "We expect exports of machine tools to grow to nearly US $8 billion by 2015."
Taiwan is among the world leaders in machine tool production despite its size. Taiwan has 23 million people living on an island with an area a little larger than Maryland, while the top five producers of machine tools each have populations of more than 500 million.
"Our machine tool industry thrives because of its outstanding quality, value-based pricing, prompt delivery, advanced manufacturing technology and customer-oriented after-sales services," said Wen.
The industry also benefits from the synergies of an integrated industry cluster and the government's large-scale support of the sector. The industry cluster includes four industrial parks in the Taichung area, located in Central Taiwan. A brand new government-supported park for precision machinery was just completed in August 2012. The industry cluster promotes research and development capabilities as well as offering comprehensive supply chains.
Another initiative to spur business development is the Taiwan Excellence award. This is the highest accolade awarded to products that demonstrate innovation and value, known as innovalue. Established by the Ministry of Economic Affairs (MOEA) and the Taiwan External Trade Development Council (TAITRA), award selection is based on four different criteria: R&D, design, quality and marketing. An international panel of judges participates in the selection, with each of the four criteria given equal emphasis.
Taiwan has built up its machine tool industry over a period of more than four decades. Long-term investment by Taiwanese firms in the development of key machine tool parts and components has successfully boosted the industry's performance and technological expertise.
Taiwan's machine tool industry has also helped to fuel the growth of other sectors in the country, particularly the ICT and consumer electronics industries. For example, Taiwan's machine tool industry recently began developing high-speed cutting machines needed for the production of 3C molds and aluminum and magnesium alloy parts.
About Taiwan External Trade Development Council (TAITRA)
The Taiwan External Trade Development Council (TAITRA) was founded in 1970 to promote Taiwan's foreign trade and competitiveness in world markets. Over the past 40 years, TAITRA has played a key role in the development of the Taiwan economy. TAITRA is jointly sponsored by the government and commercial associations and is viewed by all as the business gateway to Taiwan for the international business community. Please visit www.brandingtaiwan.org or www.taiwantrade.com.tw for more information.
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