Far Eastern New Century in Taiwan

Description

In 1945, Mr. Yu-Ziang Hsu founded Far Eastern Manufacturing Company (FEMC) in Shanghai to produce the Skyscraper-brand knitting wear. This marked the beginning of the Far Eastern Textile business. In 1949, when the Nationalist government retreated to Taiwan, Far Eastern also relocated to the island, setting up its knitting factory. Far Eastern Textile Ltd. (FETL) was then established in 1954 in Taiwan. In October 2009, to reflect both the companys current structure and vision for the future, Far Eastern Textile Ltd. was renamed Far Eastern New Century Corporation (FENC).FENC holds true to its tradition of Sincerity, Diligence, Thrift and Prudence. Corporate expansion led it to set up gradually stand-alone spinning, weaving, dyeing, and apparel factories. Year 1965 marked the complete integration of the upstream, midstream and downstream processes into one vertically-integrated production chain. In 1979, Oriental Chemical Fiber Corporation merged with the Company to complete the combination of fiber and textile production. In 2008, FENC acquired Oriental Petrochemical (Taiwan) Corporation for increased efficiency and competitive advantage through the integration of the petrochemical, polyester, fiber, spinning, weaving, dyeing, apparel manufacturing, and retail businesses. APG Polytech was set up in the State of West Virginia in 2018 as our first PET production site in the United States to gain advantages in raw material and energy costs and directly supply the American domestic market without trade barriers. In collaboration with two other multinationals, we built the largest integrated PTA-PET facility in the Americas. To add value to APG Polytechs products and thereby raise the Companys competitiveness in the US market to an even higher level, in 2019 we acquired Phoenix Technologies International, LLC, a recycled PET producer located in Ohio. The multi-phase expansion of our vertically-integrated production site in Vietnam over the years has helped us to secure a tariff advantage in international trade. With the completion of Phase I, a capacity of 400,000 tons has been added to PET production and a knitting, dyeing and finishing plant is now up and running. Phase II expansion is also underway to increase production of polyester filament and staple fibers. In addition, to secure its involvement in the circular economy, the Company has also expanded the second line of its recycled PET plant at the existing location in Japan and plans to set up another production site in a further location.

Key facts

Reference Customers

Contacts

*llie Hou

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Production countries

Taiwan

Main export countries