Nan Ya Plastics to set up integrated polyester production base in m'land

Taipei, June 9, 2003 (CENS)--Nan Plastics Corp., the largest local manufacturer of plastic products, will establish three subsidiary manufacturers to build an integrated production base of polyester products in Kunshan of Jiangsu Province, mainland China.

In light of the market potential in mainland China, the company will set up a subsidiary manufacturer of polyester fiber and yarn with initial capital of US$18.5 million, one of polyester textured yarn with capital of US$18.5 million, and one of weaving, dyeing & finishing with US$18 million.

The subsidiary manufacturer of polyester fiber and yarn will have an annual production capacity of 100,000 metric tons of polyester compound, 50,000 metric tons of polyester staple fiber, 25,000 metric tons of POY (partially oriented yarn of polyester), and 25,000 metric tons of FOY (fully oriented yarn of polyester). POY and FOY will be processed by another manufacturer into polyester textured yarn, and then woven, dyed, and finished by the other manufacturer into polyester filament knit fabric.

Nan Ya has obtained approval from the Investment Commission under the Ministry of Economic Affairs for the investment project. The company has operated 15 subsidiary manufacturers (factories) and is establishing 12 others in mainland China, with product lines covering plastic tubes, plastic cloth, plastic leather, copper-clad laminates, PCBs (printed circuit boards), epoxy, and glass fiber. The investment in production of polyester products will extend the company's business operation there.

Nan Ya currently boasts the world's largest production capacity of polyester products. The company has an annual production capacity of 960,000 metric tons in Taiwan and that of 800,000 metric tons in the U.S. Moreover, the company is setting up a subsidiary manufacturer with an annual production capacity of 150,000 metric tons of PET (polyehylene terephthalate) compound and 120,000 metric tons of textile polyester compound in Vietnam. The subsidiary will begin production sometime in the first half of next year.