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

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 29th Apr 2017

EU rules needed to curb textile worker exploitation: MEPs

European Union (EU) rules are needed to oblige textile and clothing...

Apparel/Garments | On 29th Apr 2017

US retail operating growth to be 1.5-2.5% in 2017: Moody's

The forecast for operating income growth in the US over the next 12...

Interviews View All

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Sanjay Yagnik
Maa Tex Speciality

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

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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

news category


Related Categories:
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X