Taipei Times
Date: Apr 11, 2018
By: Kuo Chia-erh  /  Staff reporter

Three major units of Formosa Plastics Group (FPG, 台塑集團), the nation’s largest industrial conglomerate, yesterday released positive business outlooks for this quarter, despite an escalating trade war between the US and China.

The company’s revenue performance this quarter is expected to outpace last quarter, thanks to recovering demand and higher utilization rates, Formosa Plastics Corp (台塑) chairman Jason Lin (林健男) told an earnings conference in Taipei yesterday.

A 25 percent tariff announced by China on US-made chemicals would not affect the operations of Formosa Plastics’ US subsidiary in the short term, as polyethylene products made by the US unit are sold mainly to Latin America, Europe and Africa, Lin said.

The company would expand sales channels in overseas markets apart from China, such as Europe and Southeast Asia, after capacity expansion at its US plant is completed in the fourth quarter of this year, Lin added.    [FULL  STORY]