Asia Polymer Corp. (a member of the USI Far East Group) plans to increase output of the high-margin EVA (ethylenevinyle acetate). The company plans to invest NT$4-5 bln to build a new plant in Kaohsiung County with annual capacity of 120,000 tons, as per CENS.
Taiwan’s sixth naphtha cracker is scheduled for completion in the beginning of 2013 by the state-run CPC Corp. Asia Polymer can generate another NT$10 bln in annual sales based on the current average selling price of EVA. Institutional investors say foam-grade EVA sells at US$2,900 with gross profit reaching US$1,400 per metric ton. Strong demand from China`s downstream industry has propped average selling price of EVA since H2-10 by 70% to between US$2850-2950 from the earlier US$1700/ton.