Formosa Plastics Group, Taiwan’s largest industrial conglomerate, reported mixed performance across its four main units, with total November revenue reaching NT$118.6 billion ($3.8 billion). Three of the four units posted monthly gains, while Nan Ya Plastics saw a decline due to seasonal factors.
The group’s flagship company, Formosa Plastics Corp., recorded the strongest monthly growth of 15.3% to NT$18.1 billion ($580 million), boosted by delayed shipments of caustic soda and PVC following October’s typhoon disruptions. The company also benefited from increased polypropylene production at its Ningbo plant in China.
Nan Ya Plastics saw its revenue drop 3.5% month-on-month to NT$21.9 billion ($700 million), primarily due to weaker polyester chip demand during the U.S. Thanksgiving period. The company’s Ningbo operations were further impacted by delayed raw material deliveries.
Formosa Petrochemical, the group’s oil refining arm, posted the second-highest monthly gain of 12.7% to NT$51.2 billion ($1.6 billion), driven by improved refining operations.
Despite some positive monthly figures, the group’s year-to-date revenue through November fell 2.3% compared to the same period last year, reflecting ongoing challenges from weak oil demand, geopolitical tensions, and China’s economic slowdown.
