FORTUNE ELECTRIC COMPANY LIMITED

FORTUNE ELECTRIC COMPANY LIMITED

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Company Overview
Fortune Electric Company Limited (FE) is a Taiwan-based, publicly quoted company engaged in the production and marketing of high voltage power transformers and switchgears. The company was established in 1969 by Mr. H. L. Hsu. It has its corporate head office located in Chung-Lin, Taiwan.
FE’s products include cast resin transformer, power transformer, metal-clad switchgear, switchgear panel, gas switch, gas insulated switch (GIC), amorphous metal alloy core, and motor control center. It also manufactures transformer components such as CTC, no load tap changer, on load tap changer, radiator, bushing, cooling fan, transformer oil, temperature indicator and surge arresters. These products are distributed in China.
FE’s philosophy is “Quality, Participation, Welfare, and Continuity.”
FE has global partnership with ArmCoil Afrika, specializes in the repair and supply of AC (alternating current) & DC (direct current) rotating equipment and transformers.
FE has domestic offices located in Kaohsiung and Taipei, and overseas division located in North America.
Business Summary
The Company is engaged in the manufacture, processing and trade of transformers, electric switchboards, timer distributors and other equipment.
Description and history
The Company was established in 1969. The Company was listed on TSEC on 16 April 1997. The Company is engaged in the manufacture, processing and trade of transformers, electric switchboards, timer distributors and other equipment. The Company is also involved in project contractor business. The Company’s transformers include energy-saving environmental protection transformers and special high capacity self-coupling transformers.

COMPANY HISTORY

1969

Fortune Electric was founded in Tu Cheng, Taiwan, manufacturing distribution transformers.

1973

Qualified as a Class A manufacturer of distribution transformers by IDB.

1980

Construction of the Chung Li Plant (Phase I & II) completed. Started manufacturing various types of transformers and electrical panels.
Licensed with McGraw-Edison Company to produce power transformers up to 230 kV, 120 MVA.
Qualified as a Class A manufacturer of 69 kV power transformers, 24 kV and 15 kV distribution transformers and switchgears by IDB.

1981

Rated as an ‘Excellent Quality Control Manufacturer’ of transformers and switchgears by the Bureau of Commodity Inspection and Quarantine in Taiwan.

1982

Became the 1st manufacturer of pad-mount transformers, arresters and fuse cutouts in Taiwan.

1983

Implemented Company-wide Quality Control (CWQC) and factory-wide automation and rationalization.

1986

Successfully lead the development of Metal Oxide Arresters in Taiwan’s transmission and distribution market.
Licensed with Meidensha Corp. to produce MCSG.

1987

Licensed with Takaoka Electric Manufacturing Ltd. for the production of 69 KV and 161 KV ABS

1988

Licensed with Togami Electric Manufacturing Co., Ltd. of Japan for the production of SF6 Gas sealed Load Break Switches

1990

Licensed with Hitachi of Japan for the production of power transformers up to 345 kV.

1991

Acquired office building in Taipei and employee dormitories in Ta Yuan.
Licensed with ENCO, Austria for the production of Cast Resin Transformers.

1992

Licensed with G&W Electric Co. of U.S.A. to supply SF6 Switches to Taiwan’s market.
Construction of Kuan Yin Plant

1993

Became the 1st manufacturer in Taiwan heavy electrical industry certified for ISO 9001.
Mr. Pedro Hsu, President of Fortune Electric, was honored with the Excellent Business Executive Award and summoned by ex-president of ROC, Mr. Den Huai Lee.

1994

Construction of Guan Yin Plant II completed, launching the manufacture of up to 500 MVA 345 kV power transformers.

1995

Licensed with AlliedSignal Inc., U.S.A., to produce Amorphous Metal Core Transformers.

1996

Successfully developed the Gas Insulated Switch.

1997

Granted the Trade Technology Development Award.
Approved public stock offering by the Security Exchange Committee.
On July 29, Ex-President Den Huai Lee visited Chung Li Plant.

1998

Licensed with ABB, Germany, to manufacture MV GIS.
Rewarded Quality Team Award by the Quality Assurance Committee of the Rep. of China.

1999

Licensed by Alstom, Switzerland, to manufacture High Voltage GIS.
Expanded Guan Yin Plant II, and completed the construction of Guan Yin Plant III for Switchgear production.

2000

Licensed with Honeywell Technologies, Inc. for production and promotion of Amorphous Metal Core Transformers developed by GE for both Taiwan and Overseas Markets.

2001

Exported to USA 3 sets of 345kV, 225MVA Generator Step Up transformers.

2002

Successfully developed the 1st 161kV, SF6 Gas Insulated Transformer in Taiwan.

2003

Successfully developed the 1st 161kV Series Reactor in Taiwan.
FE Distribution Transformer Plant in Wuhan started production.

2004

One unit of substation type oil fill transformer, 67 kV 33.6 MVA with on load tap changer, manufactured in FE Power Transformer Plant in Guan Yin passed Short Circuit Test at KEMA.
Fortune Distribution Transformer Plant in Chung Li Successfully developed NEMR 3R enclosure for 8750kVA Cast Resin Transformer.
One unit of 1500 kVA oil fill transformer manufactured in FE Distribution Transformer Plant in Wuhan passed Short Circuit Test.
One unit of 8750 kVA oil filled transformer manufactured in FE Distribution Transformer Plant in Wuhan passed Short Circuit Test.
One unit of 3600 kVA Cast Resin Transformer manufactured in Distribution Transformer Plant in Chung Li passed Short Circuit Test.
One unit of 10kV class oil filled transformer manufactured in FE Distribution Transformer Plant in Wuhan successfully passed short circuit test.
Fortune was the 1st of all general electrical manufacturers in Taiwan to be awarded of OHSAS18001 by Taiwan National Standard
Bureau for its three plants in Chung Li, the distribution transformer plant, Guan Yin II, the power transformer plant, and Guan Yin III, the switchgear plant

2005

Wuhan FE distribution transformer plant completed the development and type test for 110kV class oil filled transformer.
Successfully completed the contractual and commissioning work of 6th Power Transmission Engineering at Chu Lin and Liu chung Substation of Taiwan Power Company.

2006

Start up ‘Engineering & Construction Division ‘ to handle substation, power plant engineering and construction.
Successfully developed 161 kV 80MVAR Shunt Reactor.
Successfully manufactured 1st 345kV 638.5 MVA Generator Transformer.

Established by Mr. H. L. Hsu

Business Line
Engaged in the production and marketing of high voltage power transformers and switchgears
Subsidiary
ASIA PACIFIC TELECOM CO., LTD.
Advisor
DELOITTE & TOUCHE
IPO date
4/16/1997
US SIC Code
3677
Company Address
10, Chi-Lin Road, Chung-Lin Industral Zone

City province or state postal code
CHUNG-LIN
Phone: +886 02 2704 7001
Fax: +886 02 2704 7005
Country address: TAIWAN
Website url: www.fortune.com.tw