Hinge and TV/monitor stand maker Syncmold Enterprise is looking to extend production to hinges used in notebooks, and to components of fitness equipment, foldable devices, smart devices, electric vehicles (EV) and 5G-related products.
In line with the goal Syncmold has taken major stakes in Gatetech Technology, a maker of aluminum and magnesium alloy die castings, and Leohab Enterprise, a maker of metal stampings.
Syncmold invested NT$550 million (US$19.4 million) for a 72.8% stake in Gatetech in December 2019 and NT$230 million for a 70% stake in Leohab in December 2020.
The mergers are strengthening vertical integration of the two makers' technology and products with Syncmold's, and horizontal complementarity in business operation, Syncmold said, adding Gatetech and Leohab are its upstream suppliers.
Gatetech and Leohab have factories in Taiwan and China, and Leohanb has another in Thailand - all provideing basis for Syncmold to expand production capacity, it said.
Syncmold posted consolidated revenues of NT$9.663 billion, gross margin of 26.29%, operating profit of NT$1.532 billion and net profit of NT$965.7 million for 2020.
Syncmold has reported consolidated revenues of NT$905.5 million for March, increasing 78.27% sequentially and 1.66% on year, and those of NT$2.293 billion for January-March grew 33.65% on year.
