SEYI celebrates the tenth anniversary of the opening of its plant in Kunshan, Jiangsu Province in the People's Republic of China.
TAIPEI, Nov. 18, 2014 /PRNewswire/ -- SEYI (SHIEH YIH MACHINERY) (4533 TT), one of the world's leading producers of mechanical presses, celebrated its tenth year in China with an open house on November 14, 2014 at its plant in Kunshan, Jiangsu Province. Ever since the opening of the Kunshan plant more than ten years ago, SEYI's sales in China have grown and have become a significant part of the Company's total sales. Sales in China have increased by 50% so far in 2014.
SEYI, which was founded in 1962, has historically served consumer, computer and communication equipment manufacturers in Taiwan. As SEYI's customers began expanding their manufacturing facilities into Mainland China, SEYI followed with the establishment of the facility in Kunshan.
While continuing to serve its traditional customer base, SEYI has used its Kunshan manufacturing base on to expand into China's rapidly growing automotive industry. In 2014, Chinese automakers are expected to produce nearly 24 million vehicles, accounting for approximately 28% of the total number of vehicles produced in the world. Since 2009, when vehicle sales in Mainland China surpassed those in the United States, China has been the undisputed world leader in autos.
With manufacturing in Kunshan, SEYI has now added Ford from the United States, Toyota, Honda and Nissan from Japan, Kia from Korea, as well as European Tier 1 and Tier 2 auto suppliers from France andGermany, as customers. Kunshan, which is located in the southeastern part of Jiangsu Province adjacent to the municipality of Shanghai, is ideally situated to serve customers in China's northern, central and southern provinces, as well as those in the eastern part of the country.
In order to serve its growing list of automotive customers, the Kunshan facility has been expanded to two workshops; the Company has begun manufacturing higher tonnage presses; and the technical skills and capabilities at the factory have been upgraded. The management team has also been strengthened .
"Since opening our facility in Kunshan, sales to the automotive industry have become SEYI's biggest growth driver," Ms. Claire Kuo, Chairman and Chief Executive Officer, said. On the strength of these new automotive customers, the Company expects its sales to grow by double digits annually in the coming years," Ms Kuo added.
In order to achieve its objectives, SEYI said that it will expand its research and development activity in Kunshan, target additional automotive customers and continue its shift to the production of higher tonnage, intelligent and more automated equipment, enabling the Company and to become an "All-In-One" total solution provider. SEYI has also begun the planning for the establishment of a third workshop in Kunshan in the 2015 to 2016 time frame.
Founded in 1962, SEYI has established a global leadership position in the metal forming industry over the past 50 years. SEYI manufactures mechanical presses, ranging in size from 25 to 4000 tons, at facilities located in Taiwan and mainland China.
SEYI is expanding its Total Solution Service emphasizing peripherals such as feed mechanisms, transfer equipment and other ancillaries to maximize SEYI press productivity. SEYI's servo presses are highly-integrated, exquisitely designed, durable, smart, energy efficient and environmentally friendly presses that feature the latest user-friendly interfaces, safe system designs and robust machine structures. The stylish exterior designs of SEYI's presses differentiate them in the market and communicate their quality and value.
SEYI's products are sold to customers in over 40 countries around the world and have received numerous quality and industry awards. SEYI has supplied the world's leading car companies in the automobile industry. The auto, aviation machinery and medical equipment industries are expected to be future areas of growth.
The Company completed an initial public offering of its common stock in 2002 and is traded on the Taiwanese OTC (4533 TT) market.