STIMULATE: The Formosa Plastics Group unit expects its electric material and plastics segments to see revenue increase this quarter as markets are entering peak season
Date: Jul 11, 2018
By: Kuo Chia-erh / Staff reporter
Nan Ya Plastics Corp (南亞塑膠), a major unit of Formosa Plastics Group (台塑集團), yesterday said it expects revenue this quarter to grow from last quarter, despite market volatility amid an escalating US-China trade war.
“Nan Ya’s electric material and plastics segments are expected to see their revenue increase this quarter [from last year], as the markets are entering peak season,” company chairman Wu Chia-chau (吳嘉昭) told a news conference in Taipei.
The company also expects ethylene glycol prices to rebound in the second half of this year from about US$900 per tonne, supported by continuing demand for polyester in the Chinese market, Wu said.
Ethylene glycol inventories have remained low in China and restocking demand is likely to continue to stimulate sales this quarter, he added.