To cope with the rapid transitions of the economic environment and to enhance competitiveness, Far Eastern New Century has implemented Organizational Alignments—the establishment of the Corporate Petrochemical Office, which functions as an exchange platform for Petrochemical Fibers such as PTA and MEG between Taiwan and Mainland China.
The Petrochemical Industry is the upstream of man-made Fiber Industry. It supplies Polyester Chemical Fibre, which is the most common and largely used raw material in the man-made Fiber Industry, and which you can find everywhere in everyday life. The need for Polyester Chemical Fibre grows year by year along with global population growth and the advancement of human living standards.
The main raw material used to produce polyester-related products is called Pure Terephthalic Acid, which is also known as PTA. Besides, PTA is an auxiliary raw material for: powder coatings, plasticizers, surfactants, and an additive in making nylon 6. At the end of 2017, FENC put 1.5 million MT capacity into production in Guanyin, Taoyuan; which became the largest PTA plant factory in Taiwan. As of today, FENC currently have an annual output of 3.1 million MT in both China and Taiwan. However, in order to further enhance the group’s competitiveness in the industry, PTA and PET facilities will begin operation in Texas in 2020. We will continue to expand the scale of our operations, focusing on both upstream and downstream integration to take advantage of manufacturing opportunities and earn a place among industry leaders.
Mono-Ethylene Glycol (MEG), made from rectified Ethylene Oxide (EO), is used in making anti-freeze fluid, dehumidifiers, engineering plastics and brake fluid besides being used in making polyester fibers. Besides our affiliated company OUCC (Oriental Union Chemical Corporation) with its product line with an annual capacity of 250 thousand tons located in Lin Yuan District of Kaohsiung, the Corporate Petrochemical Office has also built a new MEG plant in Yangzhou with an annual capacity of 500 thousand tons start-up production in 2015 Q3 and will establish an integrated PTA/PET plant in Texas, U.S.
In recent years, the Corporate Petrochemical Office has successfully established itself in the Taiwan and Mainland Petrochemical Industry by using strategies of expanding production scale, by enhancing the integration of the corporate upstream and downstream Industries, and by getting firm control over raw material supplies. In the future, we will keep our global view, keep advancing our market share, and definitely keep a sustainable operation.
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