Ho Tai Development Co. celebrates 50th anniversary

The China Post News Staff

TAIPEI, Taiwan — Ho Tai Development Co. (和泰興業) on Monday celebrated its 50th anniversary.

In yesterday’s ceremony, Ho Tai Chairman Antonio Soo (蘇一仲) said that Ho Tai is poised to gain the right to sell McQuay chillers. He expects Ho Tai’s sales revenues to reach NT$40 billion in 2015. Ho Tai was established in 1963 by Lie-ho Huang (黃烈火) to manufacture stainless steel flatware for export. Five years later in 1968, Ho Tai gained sales rights for Japanese Sunwave’s kitchen facilities, including kitchen utensils and gas hotplates for the domestic market. In the 1970s, Ho Tai gained sales rights for General Electric (GE) and Zenith products, making these American brands available all over Taiwan. Ho Tai set up a joint venture in 1989 with Japan’s top Electric Specialty Chain Store, Deo Deo (then Daiichi Denki) to handle electric home appliances and personal computers. Noriyuki Inoue (井上礼之), chairman and chief executive officer of Daikin air-conditioner attended the ceremony to send his regards. Daikin is the world’s largest air conditioning company and has been using Ho Tai’s local network and sales channel since it started selling products in Taiwan in 1992.