Merck Announces Largest Ever Investment in Taiwan
German science and technology company Merck announced last week that it will invest around NT $ 17 billion in Taiwan over the next 5-7 years. The funds will go mainly to the establishment of a large-scale semiconductor materials production and application R&D center in southern Taiwan.
The planned investment is the largest Merck has made in Taiwan to date and could create around 400 jobs, doubling the number of workers employed in the company’s semiconductor operations in Taiwan.
On December 16, the Merck Taiwan Group, the company’s Taiwanese subsidiary, held a groundbreaking ceremony for a new electronic equipment delivery and procurement equipment manufacturing plant at the Kaohsiung branch of the science park. from southern Taiwan. The company has also leased 15 hectares of land from the park administration to be used for its planned “mega-site”, which is expected to begin operations in 2022.
Fubon union and Jih Sun agree on terms of employment
After numerous negotiations between the union of Jih Sun Financial Holdings and Fubon Financial Holdings, which bought Jih Sun at the start of the year, a first consensus was finally reached on December 17.
Under the plan agreed to by both parties, Fubon will not terminate or terminate employees with severance pay, for any reason related to the acquisition. As for the preferential retirement conditions, based on the provisions of the Labor Standards Act regarding voluntary retirement, Fubon will grant an additional five months of average salary, and will also institute a three-month retention bonus.
In late March, Fubon finalized a hostile takeover of Jih Sun, the first in Taiwan’s history of mergers and acquisitions of a financial holding company buying out another financial holding company. The two companies are expected to fully merge by the first quarter of 2022.
Taiwan-listed companies achieve revenue increase in 2021
The Taiwan Stock Exchange (TWSE) recently reported that the total turnover of listed companies in Taiwan in the first 11 months of this year reached NT $ 34.6 trillion ($ 1.22 billion), an estimated 16.58% increase over the same period last year.
The TWSE noted that among the sectors that experienced higher revenues between January and the end of November were shipping, whose revenues increased by 103.55%; oil and gas, which experienced a 69.39% jump in revenues; and steel, with a 49.16% increase in turnover.
Sectors that saw their revenues decline include financial services and insurance (down 12.03%), the miscellaneous electronics sector (down 8.7%) and the automotive industry, whose revenues fell 8.33% due to the effects of the global chip shortage on supply chains.