UPTREND:The company and three other major Formosa Plastics Group units saw aggregate sales for last month rise 7.1 percent to NT$119.36 billion from a year ago
Date: Aug 08, 2017
By: Kuo Chia-erh / Staff reporter
Formosa Plastics Corp (台塑), the nation’s largest producer of polyvinyl chloride, yesterday reported that revenue last month increased 14.6 percent year-on-year to NT$16.98 billion (NT$561.5 million), the highest growth rate among the four major units of the Formosa Plastics Group (台塑集團), primarily due to increased output.
The company’s plant in Kaohsiung’s Linyuan District (林園) reached full capacity last month, helping lift sales volume by 16,000 tonnes and revenue by NT$590 million over the period, Formosa Plastics said in a statement.
However, on a monthly basis, sales declined 5.4 percent from June, which the company attributed to declining orders from its Indian customers.
“Our Indian clients seemed hesitant to place orders for imported goods last month, as they were trying to adapt to challenges following recent tax reforms,” Formosa Plastics chairman Jason Lin (林健男) said at a press conference in Taipei.