By Chen Cheng-hui / Staff reporter, with CNAFormosa Plastics Corp （台灣塑膠）, the flagship entity of Formosa Plastics Group （台塑集團）, yesterday said that it would build a new manufacturing site in Texas at a cost of US$207 million.
Formosa Plastics Corp (台灣塑膠), the flagship entity of Formosa Plastics Group (台塑集團), yesterday said that it would build a new manufacturing site in Texas at a cost of US$207 million.
When completed, the plant would have an annual capacity of 100,000 tonnes of alpha olefins, which are used to make high-density polyethylene (HDPE), among other products, the company said.
About 63,000 tonnes would be used by Formosa Plastics, while the remaining 37,000 tonnes would be sold on the international market, it said.
The projected completion date of the plant is October 2025, and mass production is scheduled for December that year after a
Formosa Plastics Group’s (FPG, 台塑集團) four major subsidiaries yesterday reported a combined net profit of NT$51.33 billion (US$1.77 billion) in the first quarter, an annual increase of 12.8 percent, due to rising crude oil prices and a global economic recovery.
Petrochemical producer Formosa Plastics Corp (FPC, 台塑), the group’s flagship company, saw net profit rise 10.8 percent to NT$16.5 billion year-on-year from NT$14.8 billion a year earlier, a company filing with the Taiwan Stock Exchange showed.
That represented a quarterly decline of about 1.6 percent from NT$18.8 billion.
Earnings per share last quarter rose to NT$2.6, down from NT$2.65 a quarter earlier, but
Formosa Plastics Group (FPG, 台塑集團) yesterday said it would launch a subsidy program worth as much as NT$720 million (US$25.19 million) for its employees to purchase electric scooters in the industrial conglomerate’s latest push to cut greenhouse gas emissions.
Employees working at the group’s four major subsidiaries for more than one year would be eligible to apply for a NT$10,000 subsidy for the purchase of a new electric scooter, or NT$16,000 for retiring an old scooter, FPG said in a statement issued after a news conference in Taipei.
The company’s subsidies combined with those offered by local governments would mean FPG employees