Formosa Plastics to halt vinyl chloride monomer plant at Mailiao petrochemical complex

01-Jun-11

The Yunlin County Government has ordered Formosa Plastics Corp (FPC), the group’s flagship company, to shut down a 12 hectare vinyl chloride monomer (VCM) plant, and asked another group member, Nan Ya Plastics Corp to close its 50 hectare Haifeng factory compound over safety concerns. Closure of these six plants- one run by Formosa Plastics and five by Nan Ya Plastics, will result in daily losses of NT$34.4 mln (US$1.2 mln). Formosa Petrochemical Corp’s (FPCC) Number 1 petrochemical and olefins plant at the complex remains shut because of disruptions to raw material pipelines.