TaYa Enters the Board of Directors of Jung Shing Wire (Economic Daily News / Huanwen Lu / Taipei)
2013/06/26
Taiwan’s major magnet wire manufacturer, Jung Shing (1617), held a shareholder meeting yesterday (25th) to elect a new Board of Directors. Jung Shing Chairman Dongxian Wang was reelected, while TaYa Electric Wire & Cable won one of the seven Director seats, officially entering Jung Shing’s Board of Directors. TaYa Chairman Shanghung Shen stated that he has positive expectations of Jung Shing’s future, and hopes to increase bilateral understanding by entering the Board of Directors, and expects opportunities to work together in the future.
TaYa has positive expectations for Jung Shing. In the second half of 2011, TaYa had bought shares from Jung Shing, whose price was between TWD$ 12 to 13 per share. Jung Shing stated that, after TaYa joins the Board of Directors, the two companies will investigate ways to cooperate in the future. Currently, TaYa holds 22.59% of Jung Shing’s stocks, the largest shareholder.