Taipei, Dec. 2, 2009 (CENS)--Fair Friend Enterprise Co., a leading manufacturer of machine tools in China, will apply to issue Taiwan depository receipts (TDRs) to be listed on the Taiwan Stock Exchange (TWSE) sometime in the second quarter of 2010.
Fair Friend Group chairman Jimmy Chu said Fair Friend will integrate all the production facilities in China to achieve NT$10 billion (US$301.55 million at US$1:NT$32.2) in overall production value per year, adding that his group will apply to list TDRs in Taiwan under Fair Friend International.
With total output of 5,800 units of various kinds of metal-cutting and metal-forming machine tools, the group saw sales of machine tools reach more than NT$10.3 billion (US$319.87 million) last year.
Chu once said Fair Friend will return to Taiwan to go public within two years, or in 2011, a plan that has been pushed ahead backed by improving Cross-Strait relations.
Founded 30 years ago, Fair Friend began operations as an agent of construction machinery for Japan-based Kobe Steel Corp. With decades of development, Fair Friend currently has 52 affiliates worldwide with products ranging from machine tools to power hand tools, forklift trucks, construction machinery, elevators, parking systems, pneumatic hand tools, printed circuit boards, liquid crystal display (LCD) TVs and LCD devices.
Source:cens.com/
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