Formosa Chemicals & Fibre Corp (台灣化纖), a unit of Taiwan’s biggest diversified industrial group, shut its No. 3 aromatics plant after a heating pipe ruptured on Tuesday, causing a fire.
The plant in Mailiao (麥寮), Yunlin County, would resume operations as early as possible, Formosa Chemicals president Hong Fu-yuan (洪福源) said by telephone. The fire had been extinguished, he said.
“We’ll gradually restart the plant after repairing the damage,” he said.
Formosa Chemicals has three aromatics plants with a total annual capacity of 3.5 million tonnes, including 1.5 million tonnes at the No. 3 unit, Hong said. The units produce benzene, paraxylene and orthoxylene, used to make computer casings, polyester fiber, dyes and insecticides.
Output would be reduced “a bit,” while the impact on sales would be limited, as the company may buy petrochemicals to make up for the shortfall, Hong said.
Separately, state-run CPC Corp, Taiwan (CPC, 台灣中油) shut its No. 3 naphtha-processing plant in Kaohsiung on Tuesday because of a mechanical fault.
The refiner plans to restart the plant today after fixing the fault, vice president Lin Maw-wen (林茂文) said yesterday. The company expects petrochemical supplies to customers to remain normal as its other two naphtha crackers are in service, Lin said.
The crackers process naphtha into ethylene, a material used to make plastics, chemicals and synthetic fabrics. CPC operates three such plants with a combined annual ethylene output capacity of 1.08 million tonnes, including the No. 3 plant’s 230,000 tonnes.
Gogoro Inc (睿能創意) yesterday launched its first electric bicycle, the Gogoro Eeyo 1, in Taiwan, after unveiling the bike in New York in late May and in France on Tuesday. The company said it would also introduce the series in other European countries such as Germany and the Netherlands. The “Eeyo project” is the fourth of Gogoro’s eight projects that concentrate on smart transportation, which includes Gogoro’s electric scooter, battery swap system and electric scooter sharing service, company founder and chief executive officer Horace Luke (陸學森) told a media briefing in Taipei. “There are various types of city commuters. We will not
EXPERIMENTAL DRUG: While news about a COVID-19 vaccine is more eye-catching, developing a treatment would be more viable, the Senhwa boss said Senhwa Biosciences Inc (生華科) aims to raise NT$1.5 billion (US$50.57 million) by issuing 15 million new common shares in the third quarter of this year to fund the research of new drugs, including the experimental drug Silmitasertib for the treatment of COVID-19, the company said on Monday. That would be the firm’s largest fundraising effort after it raised more than NT$1.4 billion from an initial public offering on the Taipei Exchange (TPEX) in April 2017, chief financial officer Sarah Chang (張小萍) told the Taipei Times by telephone. The price of the new shares would depend on the firm’s average share price
NOT A PANACEA: Offering 5G services would not solve the problem of declining telecom incomes, chairman Sheih Chi-mau said, expecting a flat 5G telecom revenue Chunghwa Telecom Co (中華電信) yesterday became the nation’s first telecom to debut its 5G services, offering tiered tariffs that include a threshold of NT$599 and flat rates, as it aims to switch half of its subscribers to the 5G network within three years. Subscribers would have unlimited data transmission for monthly fees starting at NT$1,399 — the same flat rate as when the company launched its 4G service in 2014 — and they can subscribe to the highest-rate plan for NT$2,699 per month for faster data transmission speeds and larger bandwidth, the company said. Data transmission speeds would be within the range
ROW: A probe would determine if the rights of shareholders who were not allowed to vote yesterday had been violated, while the stock exchange also wants answers The election of board directors yesterday at Tatung Co (大同) sparked controversy after the company blocked some institutional and individual shareholders from participating in the general shareholders’ meeting, prompting the Financial Supervisory Commission (FSC) to announce that the vote would be investigated. Lin Kuo Wen-yen (林郭文艷) was re-elected as chairwoman of the household-appliance maker’s nine-member board, but prior to the vote she announced that several shareholders would not have voting rights. They were being denied a vote because they had contravened the Business Mergers and Acquisitions Act (企業併購法), and the Act Governing Relations Between the People of the Taiwan Area and