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PET granules prove to be proverbial golden hen
15
Aug '09
In the first half of this year, rising price of raw materials, compressed profits of the chemical fibre industry, but two major PET granule makers; Far Eastern Textiles and Shinkong Synthetics achieved substantial growth in profits from PET granules.

Far Eastern Textile earned 800 million Yuan from its plants in Taiwan and the Mainland China, while Shinkong Synthetics earned a surplus of nearly 3 billion Yuan from its plants in Taiwan and Thailand.

This year, prices of Pure Terephthalic Acid (PTA) and Ethylene Glycol (EG) have continued to increase, due to which profits of chemical fiber plants are suffering as they are not able to generate remunerative prices for their produce.

Compared to polyester yarn and polyester staple fiber, PET granules have performed brilliantly. An increase in demand from emerging economies for packaged drinking water and beer has led to a splurge in demand for PET granules.

Far Eastern Textile is the world's largest manufacturer of PET granules and the production capacity of its Taiwan plant is 1,250 metric tons per day and with its China plant also producing 1,300 tons daily, these plants have become the most profitable golden hen.

Shinkong Synthetics has invested close to 800 million Yuan this year to double its production capacity in Taiwan and this is expected to be operational in the second half of next year.

Fibre2fashion News Desk - China

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