Globe Union Saw Revenue Top NT$10 B. in 2005

Taipei, Feb. 6, 2006 (CENS)--Globe Union Ind. Corp., Taiwan' s leading manufacturer of sanitary ware, kitchenware, bathroom furniture, and related hardware products, witnessed its revenue break the NT$10 billion (US$294.12 million at US$1 = NT$34) mark to hit NT$10.17 billion (US$299.12 million) in 2005, up 3.6% from the corresponding figure posted in 2004.

In December alone, the company' s revenue hit a record monthly high of NT$1.074 billion (US$31.59 million), for an annual rise of 18.9%.

Although Globe Union' s Taiwan operations saw annual revenues drop 3.83% to NT$4.12 billion (US$121.18 million) last year, its overseas subsidiaries showed pretty good performance in the three major overseas markets-North America, European Union, and mainland China.

Globe Union merged a U.S. company in 2003. Last year the merged firm managed to break even with revenue of US$83 million, and this year it may post slight profit. In 2005, sales of the firm' s products in North America under the brand 'Danze' boasted a sharp annual rise of 35% to reach US$46 million, with profits estimated at over US$3 million. This year the sales of 'Danze' sanitary ware and bathroom products are predicted to grow 30% to US$60 million.

In 2005 Globe Union posted sales of US$20 million in the European Union, and rapidly build up its reputation there particularly after it merged Lenz, a German firm, in 2004. This year, the company is expected to see the revenue shoot up to US$35 million.

As for the market in mainland China, Globe Union has purchased a 54% stake in a sanitary ware firm in Shenzhen of Guangdong Province, which has already been listed on the local bourse. The sanitary ware firm, turning out mainly faucets, scored revenue of 1.4 billion renminbi (RMB) last year, and it has recently decided to invest 200 million RMB to set up a new plant in Huizhou in the same province to expand operations. The new plant is slated for official run by the end of 2007 with annual production capacity of 13 million faucets.