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The InvesTaiwan Service Center on Friday approved Kenmec Mechanical Engineering Co’s (廣運機械工程) planned investment of NT$600 million (US$21.67 million) to construct new manufacturing facilities in New Taipei City’s Rueifang Industrial Park (瑞芳工業區), the Ministry of Economic Affairs said.
The investment comes as the factory automation and thermal solution service provider is seeking to meet robust demand from clients amid a global smart manufacturing and industrial automation trend, the ministry said.
The plan is part of Kenmec’s efforts to enhance manufacturing capabilities and provide total solutions to Taiwanese and global clients, the ministry said, adding that its clients are in the electronics, plastics,
The official manufacturing purchasing managers’ index (PMI) posted 59.3 this month, above the expansion threshold for 18 straight months, but increasing costs might weaken companies’ profitability next year, the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday.
The Taipei-based think tank said that its assessment is based on a month-long survey of local firms.
PMI readings aim to gauge the health of the manufacturing industry, with scores above 50 indicating expansion and scores below 50 suggesting a contraction.
The growth extended across all manufacturing sectors, as local companies benefited from the recovery of the global economy, the survey showed.
“Companies generally expect