Formosa Plastics Group (FPG, 台塑集團) yesterday held a funeral for cofounder Wang Yung-tsai (王永在), that drew many key political and business figures.
President Ma Ying-jeou (馬英九) made a statement praising Wang for building the group’s production base in Yunlin County’s Mailiao Township (麥寮), which helped boost the nation’s petrochemical industry, generate tax income and create jobs.
Vice President Wu Den-yih (吳敦義), Legislative Speaker Wang Jin-pyng (王金平) and Minister of Economic Affairs John Deng (鄧振中) attended the ceremony, as well as Democratic Progressive Party (DPP) caucus whip Ker Chien- ming (柯建銘) and former DPP chairman Su Tseng-chang (蘇貞昌).
Photo courtesy of Formosa Plastics Group
Wang passed away on Nov. 27. at the age of 93. He was a younger brother of Wang Yung-ching (王永慶), the other founder of the group. The younger Wang was dubbed “the grand architect” of the group’s production site in Mailiao — which encompasses the nation’s sixth naphtha cracker, an oil factory, a power plant and a harbor — because he supervised its construction, which started in 1994, according to the group.
“Wang [Yung-tsai] was a person who always quietly finished what had to be done and never asked for fame,” Chinese National Federation of Industries (CNFI, 全國工業總會) chairman Rock Hsu (許勝雄) said.
HTC Corp (宏達電) chairwoman Cher Wang (王雪紅), a niece Wang Yung-tsai, said that he devoted all his life to Taiwan and to the group, and his diligence is worth emulating.
Formosa Plastics Group chairman William Wong (王文淵), Wang Yung-tsai’s son, said he learned how to run a company from his father, who used to spend several hours at weekends discussing corporate management with Wong, and sharing his experience restructuring Formosa Chemicals & Fibre Corp (台灣化學纖維) and Nan Ya Plastics Corp (南亞塑膠).
Wong said he would live up to his father’s expectations and complete all of the group’s important projects.
The domestic unit of the Chinese-owned, Dutch-headquartered chipmaker Nexperia BV will soon be able to produce semiconductors locally within China, according to two company sources. Nexperia is at the center of a global tug-of-war over critical semiconductor technology, with a Dutch court in February ordering a probe into alleged mismanagement at the company. The geopolitical tussle has disrupted supply chains, with some carmakers reportedly forced to cut production due to chip shortages. Local production would allow Nexperia’s domestic arm, Nexperia Semiconductors (China) Ltd (安世半導體中國), to bypass restrictions in place since October on the supply of silicon wafers — etched with tiny components to
Singapore-based ride-hailing and delivery giant Grab Holdings Ltd has applied for regulatory approval to acquire the Taiwan operations of Germany-based Delivery Hero SE's Foodpanda in a deal valued at about US$600 million. Grab submitted the filing to the Fair Trade Commission on Friday last week, with the transaction subject to regulatory review and approval, the company said in a statement yesterday. Its independent governance structure would help foster a healthy and competitive market in Taiwan if the deal is approved, Grab said. Grab, which is listed on the NASDAQ, said in the filing that US-based Uber Technologies Inc holds about 13 percent of
Taiwan is open to joining a global liquefied natural gas (LNG) program if one is created, but on the condition that countries provide delivery even in a scenario where there is a conflict with China, an energy department official said yesterday. While Taiwan’s priority is to have enough LNG at home, the nation is open to exploring potential strategic reserves in other countries such as Japan or South Korea, Energy Administration Deputy Director-General Chen Chung-hsien (陳崇憲) said. While the LNG market does not have a global reserve for emergencies like that of oil, the concept has been raised a few times —
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday received government approval to deploy its advanced 3-nanometer (3nm) process at its second fab currently under construction in Japan, the Ministry of Economic Affairs said in a news release. The ministry green-lit the plan for the facility in Kumamoto, which is scheduled to start installing equipment and come online in 2028 with a monthly production capacity of 15,000 12-inch wafers, the ministry said. The Department of Investment Review in June 2024 authorized a US$5.26 billion investment for the facility, slated to manufacture 6- to 12nm chips, significantly less advanced than 3nm process. At a meeting with
RSS