Back in 1980 David Chen, who had just graduated from the Department of Marine Engineering at National Taiwan Ocean University, and his elder brother Chen Ping-tsao, met with Ping-tsao’s friend Yang Tai-chung and the three of them decided to go into business together. Each contributed NT$50,000 as start-up capital, and they founded the Value Valves Company, specializing in producing valves for ships, the petrochemical industry, and the steel industry.