Equipment maker Gallant Precision Machining (GPM), in view of sluggish demand for panel and solar cell equipment, is seeking orders from other industries including hydraulic and wind power generation and LEDs, according to the company.

GPM is already involved in several ongoing projects initiated by the Taiwan government, providing equipment targeted at new energy-saving appliances, the company said. Shipments for government projects are expected to start bringing in a solid contribution to company revenues in 2012, GPM said.

In addition to expanding its market reach, GPM is looking to expand its customer base worldwide, the company indicated. GPM mainly ships products to clients in Taiwan, China and soutease Asia.

GPM reported revenues for October 2011 declined 60.4% sequentially to NT$157 million (US$5.2 million). The company attributed the decrease to new shipment schedules requested by clients.

GPM expects its revenues for the current fourth quarter to be similar to the levels posted during the same period of 2010.

GPM mainly supplies equipment for the production of LCD panels and solar cells. Major clients reportedly include AU Optronics (AUO) and TSMC Solar. 

Source:digitimes