Home / Knowledge / News / Textiles / Far Eastern & Shinkong Synthetic to ramp up capacity
Far Eastern & Shinkong Synthetic to ramp up capacity
18
Aug '09
In order to ensure competitiveness and increase capacity, two major Taiwan fiber manufacturers; Far Eastern Textile Ltd and Shinkong Synthetic Fiber are planning to invest substantial amounts.

Far Eastern Textile will invest 2 billion NT Yuan in both Taiwan and the Chinese Mainland to construct a plant in each country, with an annual production capacity of 200,000 tons PTA in each plant.

Shinkong Synthetic Fiber is also planning to spend 800 million NT Yuan to add 210,000 tons of new production capacity of PET polyester chips, thus bringing its total capacity up to 420,000 tons

Far Eastern Textile says that Japan's chemical industry suffered very serious losses last year, and has not yet fully recovered from the abyss of depression and the US and EU retail industry is still in the doldrums.

Therefore the economy as a whole is not optimistic, Taiwan's chemical fiber industry recorded a negative growth of 13 percent last year, of which, exports fell 6 percent and domestic sales showed a serious setback.

However, the overall performance of Far Eastern Textile was not bad and maintained its industrial gross margin at about 10 percent, down by only 1 percent from the previous year, despite the recessionary trends.

In order to maintain its status quo amongst the world's top chemical fibre companies', Far Eastern Textile has decided to set up two PTA plants in Mainland and Taiwan with an annual production capacity of 200,000 tons each.

The construction is expected to complete by the end of next year and total production capacity will then reach 2,000,000 tons. Shinkong Synthetic Fiber will also expand capacity by 210,000 tons of PET chips, bringing its total capacity to 420,000 tons.

At present, a new fiber plant is under construction in Thailand with an annual capacity of 180,000 tons. Shinkong Synthetic Fiber achieved a net profit more than 100 million NT Yuan in the second quarter due to better performance of its PET chip business.

Fibre2fashion News Desk - China

Must ReadView All

Apparel/Garments | On 18th Feb 2017

Bangladesh apparel sector has 95% local investors: BGMEA

Over 95 per cent of the total investors in the Bangladesh apparel...

Textiles | On 18th Feb 2017

Smriti Irani resolves cutting of carpets issue at ports

During a meeting held with stake holders of the carpet weaving...

Apparel/Garments | On 18th Feb 2017

Andhra Pradesh inks MoUs to set up 12 apparel units

At the recent CII Partnership Summit held in Hyderabad, memorandum of ...

Interviews View All

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search