Overseas ambitions of Feng Tay to leave strong footprints in 2005
19 May '05
2 min read
taiwan's leading footwear maker feng tay enterprises co. is expected to see a 19 percent rise in production volume after the number of its global plants grows to 12 with a total workforce of 64,000 by the end of this year.
the company has embarked upon an ambitious plan to expand its operation setting up factories in china, vietnam, indonesia and mexico, in addition to the headquarters in taiwan.
operations in vietnam are being expanded and the number of its factories there will increase to five by the end of the year. production capacity in vietnam will go up 55 percent of its global output from current 32 percent, while the corresponding ratio in the mainland will be lowered to 33 percent from 50 percent. indonesian production will shrink to 11 percent from 17 percent during the same period and the output in mexico will account for merely 1 percent of the total.
currently, feng tay's annual output is around 42 million pairs of shoes, and the figure is predicted to rise to 50 million pairs by the end of 2006. last year, the company raked in nt$20.23 billion (us$595 million at us$1 = nt$34) in revenue from its global operations, with pretax earnings per share (eps) of nt$2.85 (us$0.084).
recently feng tay was ranked no. 168 of taiwan's top 1,000 enterprises selected by the business weekly, an authoritative business magazine in taiwan. besides, the company was regarded as taiwan's most stable enterprise in terms of overall growth, and its rs revenue for this year is projected at nt$22.86 billion (us$672.35 million), with a projected eps of nt$2 (us$0.059).
marketing@alchempro.com
