Taiwan-mainland team to make microwaves

Sweezy Tan, TAIPEI, Taiwan, The China Post

Taiwan’s Tsann Kuen Trans-Nation Group and the Haier Group on the Chinese mainland will cooperate in producing microwaves to serve the international market after they have received orders from the hypermarket giant-WalMart in the U.S. The joint-venture will be located in Zhanghzhou on the mainland. Tsann Kuen will be in charge of factory management, but some products may be marketed under Haier’s brandname. Some of its steel components are supplied by the Baosteel Co. on the mainland and its magnetrons may be shipped from Panasonic in Japan. Wu Tsan-Kuen, chairman of Tsann Kuen Trans-Nation Group, said he hopes the new venture will help boost the revenues of his group’s operations on the mainland, hopefully to help it turn losses to earnings starting from next year.

For its overall operations around the world, Tsann Kuen posted a pre-tax income of NT$789 million for the first six months, and a pre-tax EPS (earnings per share) of NT$3.57.