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September 20, 2017

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Two up, two down in FPG unit September sales

Two out of the four major Formosa Plastics Group subsidiaries reported September sales increases while the other two reported declines, yesterday.

The gainers were Nanya Plastics and Formosa Petrochemical, whose September sales rose 0.2 percent and 11.4 percent compared to August, respectively. Formosa Plastics and Formosa Chemicals and Fiber, meanwhile, saw sales decline 10.5 percent and 10.9 percent, respectively, month-on-month.

Formosa Plastics had September sales of NT$13.07 billion, a decline of 10.5 percent from August and a rise of 0.2 percent year-on-year. The firm attributed the monthly decline to lowered production due to maintenance and repair works at some of its manufacturing facilities.

Nanya Plastics had sales of NT$15.64 billion, a rise of 0.2 percent month-on-month and 9.7 percent year-on-year, due largely to a price increase for ethylene glycol, whose supply declined on the closure of plants in other parts of Asia and in the Middle East.

Formosa Chemicals and Fiber had September sales of NT$20.02 billion, a decline of 10.9 percent from August and 8.3 percent from the same period in 2011, on the lowered production of chemicals such as phenol and acetone, despite a price increase for these products on the back of more expensive oil and raw materials.

Formosa Petrochemical had sales of NT$78.92 billion, a rise of 11.4 percent from August and 65.3 percent from the same period last year, on a sharp increase in oil prices after the third round of quantitative easing measures in the U.S. and tensions in the Middle East.

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