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Teco Electric and Machinery Co and Walsin Lihwa Corp announced a strategic alliance through a share exchange. Teco will issue 171.1 million new shares and Walsin 205.33 million new shares, with a swap ratio of one Walsin share per 0.83 Teco shares. After the transaction, Teco will hold a 6.37% stake in Walsin and Walsin an 8% stake in Teco.
MHI Vestas signed agreements with Boltun Corporation for fasteners and Walsin Lihwa Corporation for cables to supply wind projects off Taiwan, including Changfang Phase 2, Xidao, and Zhong Neng, with deliveries starting in 2023.