Formosa subsidiaries hit historic high sales of pertochem in May

12 Jun '08

2 min read

Hiking crude oil prices were a blessing for the four major subsidiaries of Formosa Plastic Group (FPG) who witnessed a combined sales record of NT$160.5 billion in May.

In the wake of towering international crude oil prices, downstream firms have been rushing to procure these petrochemical products. The subsidiaries experiencing high sales are Formosa Plastics Corp (FPC), Nan Ya Plastics Corp (Nan Ya), Formosa Chemical & Fibre Corp (FCFC) and Formosa Petrochemical Corp (FPCC).

Together they registered NT$704.3 billion (US$23.32 billion) in sales combined in the first five months of this year, helping it stand firm as Taiwan`s largest private-sector business conglomerate.

While FPCC scored NT$95.5 billion in May with sales hitting a historic record high, FPC also saw sales soaring to NT$19.389 billion in the same month, up by 14.1 percent compared to April.

Reasons can be attributed to strong market demand for FPC's product line including PE, EVA (ethylenevinyl acetate) and PVC (polyvinyl chloride). On the other hand, FCFC also posted second highest monthly record sales of NT$24.776 billion in May followed by Nan Ya which saw revenues accruing to NT$20.78 billion, up by 8.6 percent compared to the previous year.

Nan Ya also saw cumulative sales reach NT$102.48 billion in the first five months of this year, an increase of NT$21.18 billion from the year earlier.

More Textiles News - Taiwan...