Taiwan’s Formosa group companies reported divergent October sales, with three units posting declines while Nanya Technology Corp. bucked the trend with higher revenue.
Nanya’s sales climbed 6.2% from September to NT$22.76 billion ($710 million), benefiting from increased ethylene glycol production at its Texas facility and stronger plasticizer demand following China’s National Day holiday. A labor dispute at US East Coast ports prompted local buyers to boost polyester purchases.
The picture was less rosy for other units. Formosa Plastics Corp. saw revenue drop 5.4% to NT$15.74 billion as liquid alkali shipments fell by 69,000 tons due to delayed deliveries. Formosa Chemicals & Fibre Corp.’s sales declined 2.8% to NT$26.73 billion after scheduled maintenance at its Mailiao plants.
The steepest fall came from Formosa Petrochemical Corp., where revenue tumbled 14.8% to NT$45.45 billion. The drop reflected month-long inspections of key refining units, overshadowing gains from slightly higher oil prices.
Market headwinds persist as Middle East tensions impact crude prices while China’s economic stimulus measures fall short of expectations. Ongoing capacity expansion by competitors and weak downstream demand continue to pressure product prices.
