Nan Ya Plastics Corp (南亞塑膠) has shut down one of its five factories at the Haifeng (海豐) compound in Mailiao (麥寮), Yunlin County, for a safety inspection and will close the other four factories by June 20, according to a memorandum of understanding (MOU) it signed with the Yunlin County Government.
The Haifeng compound houses five Nan Ya factories that produce several key textile materials and petrochemical intermediaries, such as 1,4 butylene glycol (BG), ethylene glycol (EG) and bisphenol-A (BPA). The company was under an order by the county government issued on May 27 to close these factories following fires on May 12 and May 18.
Nan Ya chairman Wu Chin-jen (吳欽仁) signed the MOU with Yunlin County Commissioner Su Chih-fen (蘇治芬) on Sunday, the county government said in a statement, after the company suspended its production at an iso-nonyl alcohol factory that same day.
Photo: Liao Shu-ling, Taipei Times
Under the MOU, Nan Ya — the world’s fourth-largest EG producer and one of the core members of the industrial conglomerate Formosa Plastics Group (台塑集團) — has promised to shut down the BG factory by June 12, close two plants that produce BPA and EG by June 15 and suspend another EG production line by June 20.
If Nan Ya fails to close these four factories as scheduled, the company will face a fine of up to NT$300,000 (US$10,500) a day by the county government. Moreover, the company will also face water and electricity cuts to the Haifeng compound and the county government will cancel the firm’s registrations for its factories, the MOU states.
The content of the MOU was published on the county government’s Web site on Sunday after Su visited the group’s Mailiao petrochemical complex to see if Nan Ya was following the county government’s order to suspend factory operations as scheduled.
Su asked the company to follow the highest safety standard procedures during the shutdown process, while denying rumors that she had recently met Formosa Plastics Group chairman William Wong (王文淵) privately to discuss the shutdowns, the county government’s statement said.
Apart from the five Nan Ya factories, one plant run by Formosa Plastics Corp (FPC, 台塑) was also ordered by the county government to suspend operation because of the recent incidents.
The group last week said closing the six factories would lead to daily losses of NT$34.4 million, with Nan Ya suffering losses of NT$26 million a day and NT$8.4 million for FPC.
Real estate agent and property developer JSL Construction & Development Co (愛山林) led the average compensation rankings among companies listed on the Taiwan Stock Exchange (TWSE) last year, while contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) finished 14th. JSL Construction paid its employees total average compensation of NT$4.78 million (US$159,701), down 13.5 percent from a year earlier, but still ahead of the most profitable listed tech giants, including TSMC, TWSE data showed. Last year, the average compensation (which includes salary, overtime, bonuses and allowances) paid by TSMC rose 21.6 percent to reach about NT$3.33 million, lifting its ranking by 10 notches
Popular vape brands such as Geek Bar might get more expensive in the US — if you can find them at all. Shipments of vapes from China to the US ground to a near halt last month from a year ago, official data showed, hit by US President Donald Trump’s tariffs and a crackdown on unauthorized e-cigarettes in the world’s biggest market for smoking alternatives. That includes Geek Bar, a brand of flavored vapes that is not authorized to sell in the US, but which had been widely available due to porous import controls. One retailer, who asked not to be named, because
SEASONAL WEAKNESS: The combined revenue of the top 10 foundries fell 5.4%, but rush orders and China’s subsidies partially offset slowing demand Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) further solidified its dominance in the global wafer foundry business in the first quarter of this year, remaining far ahead of its closest rival, Samsung Electronics Co, TrendForce Corp (集邦科技) said yesterday. TSMC posted US$25.52 billion in sales in the January-to-March period, down 5 percent from the previous quarter, but its market share rose from 67.1 percent the previous quarter to 67.6 percent, TrendForce said in a report. While smartphone-related wafer shipments declined in the first quarter due to seasonal factors, solid demand for artificial intelligence (AI) and high-performance computing (HPC) devices and urgent TV-related orders
Prices of gasoline and diesel products at domestic fuel stations are this week to rise NT$0.2 and NT$0.3 per liter respectively, after international crude oil prices increased last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. International crude oil prices last week snapped a two-week losing streak as the geopolitical situation between Russia and Ukraine turned increasingly tense, CPC said in a statement. News that some oil production facilities in Alberta, Canada, were shut down due to wildfires and that US-Iran nuclear talks made no progress also helped push oil prices to a significant weekly gain, Formosa said
RSS