GROWTH:Formosa Plastics Corp raised its production volume of acrylic esters and superabsorbent polymers, and benefited from rises in crude oil and propylene prices
Date: Dec 07, 2016
By: Kuo Chia-erh / Staff reporter
Four major units of Formosa Plastics Group (台塑集團), the nation’s largest industrial conglomerate, yesterday reported combined revenues of NT$116.6 billion (US$3.65 billion) for last month, up 4 percent from October and 5.7 percent from the same period last year, attributing the rise to improving utilization rates and rising crude oil prices.
Formosa Plastics Corp (台塑), the group’s flagship company, posted the highest sales growth among the four units.
Sales at the company rose 15.1 percent month-on-month and 20.9 percent year-on-year to NT$17.4 billion last month, company data showed.
“The performance was due to an increase in the production volume of the company’s major products, including acrylic esters and superabsorbent polymers,” Formosa Plastics Corp chairman Jason Lin (林健男) told a news conference in Taipei. [FULL STORY]