Machine tool group says industry set to grow 20%By Angelica Oung / Staff reporterThe local machine tool industry is forecast to see a recovery this year, with annual production value likely to increase 15 to 20 percent, the Taiwan Machine Tool & Accessory Builders’ Association (台灣工具機暨零組件公會) said yesterday. From left, Hiwin Group chairman Eric Chuo, Taiwan Machine Tool & Accessory Builders’ Association chairman Habor Hsu and Tongtai Machine and Tool Co chairman Yen Jui-hsiung hold a news conference in Taipei yesterday. Photo: Lin Jing-hua, Taipei TimesDomestic manufacturers last month exported US$206 million in machine tools, up 9.3 percent month-on-month, but down 18.2 percent year-on-year, association data showed. Cumulative exports for machine tool products last year were US$215.4 million, down 29.7 percent from 2019, association data showed. China last year bought the most Taiwanese machine tools, accounting for 35.1 percent of the total, followed by the US (12.7 percent), association data showed.

Source: Taipei Times January 12, 2021 15:56 UTC