Costlier oil boosts FPC revenue

POSITIVE OUTLOOK:Crude oil prices have increased 85% year-on-year, helping to stimulate the prices of downstream petrochemical products, president Jason Lin said

Taipei Times
Date: Mar 08, 2017
By: Kuo Chia-erh / Staff reporter

Formosa Plastics Group (台塑集團), the nation’s largest industrial conglomerate, yesterday reported revenue of NT$120.68 billion (US$3.91 billion) for last month, 31.2 percent year-on-year growth as it benefited from higher crude oil prices.

However, that was a 6.8 percent decline from the previous month, with company officials attributing to fall to regular and unexpected facilities maintenance which reduced production output.

Of the group’s four major units, Formosa Plastics Corp (FPC, 台灣塑膠), the group’s flagship company, posted the highest sales growth.

Revenue at FPC, the nation’s largest producer of polyvinyl chloride, grew 34.1 percent year-on-year and 1.1 percent month-on-month to NT$12.97 billion, company data showed.    [FULL  STORY]

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