FPCC the Most Profitable Subsidiary Under FPG

Taipei, March 9, 2010 (CENS)--Formosa Plastics Group (FPG), Taiwan's largest plastics and petrochemicals conglomerate, recently publicized the February sales of its four listed subsidiaries, including Formosa Plastics Corp. (FPC), Nan Ya Plastics Corp., Formosa Chemical & Fibre Corp. (FCFC) and Formosa Petrochemical Corp. (FPCC).

The most profitable firm is FPCC with US$1.9 billion in February sales, up a whopping 57.76% year-on-year. In terms of cumulative sales, the best performer is FCFC which registered US$1.42 billion in cumulative sales in the first two months of this year, up 75.9% from a year earlier. An institutional investor predicted the most profitable firm among the FPG in the first quarter of this year will be either FCFC or FPCC.

FCFC is currently Taiwan's largest integrated producer for such petrochemical products as ABS (acrylonitrile butadiene styrene), SM (styrene monomer) and PX (paraxylene) which are raw materials for the production of home appliances and cars. Over the past several months, China has developed policies to offer incentives to villagers purchasing home appliances and new cars.

Deutsche Securities Asia, Taipei Branch, says the growth trend for domestic plastics and chemical sectors will continue to the end of the second quarter of this year.

An institutional investor says Nan Ya scored over US$93.75 million in core-business sales in the first two months of this year, exceeding that registered in the fourth quarter of last year.

FPC has posted an estimated US$0.03 and US$0.046 in after-tax earnings in the first quarter of this year, only behind FPCC.

FPG's Sales Performance in First Two Months of 2010
Firms	Sales in February (NT$100 million)	Annual Growth	Sales in First Two Months of 2010 (NT$100 million)	Annual Growth
Formosa Plastics Corp.	132.99	19.5%	292.89	47%
Nan Ya Plastics Corp.	152.82	39.6%	328.41	68.9%
Formosa Chemical & Fibre Corp.	213.86	49%	454.41	75.9%
Formosa Petrochemical Corp.	610.72	57.7%	1,343.53	70.7%
Source: Formosa Plastics Group, Taiwan Stock Exchange