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24 April, 2018

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Teco plans a shopping spree and aims for top slot

01 April, 2003

The Taiwanese motor manufacturer Teco has revealed plans to expand its global operations by buying a major motor manufacturer in either Europe or North America, as well as three motor firms in China. According to reports from Taipei quoting chairman Theodore Huang, the company expects to finalise the proposed acquisitions within six months.

The news comes as Teco is completing a new factory in China which it has built as a joint venture with the China Steel Corporation and several Japanese companies, including Sumitomo. The $20m Wuxi plant, in which Teco has a 70% stake, is expected to generate sales worth around $70m this year, rising to $300m within five years.

Teco has set a target of capturing half of the North American market for large motors and, like the Brazilian motor-maker WEG, has set its sights on becoming the world`s largest supplier of industrial motors.




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