Formosa Petrochemical posts 70% Nov sales surge

07 December 2007 10:23  [Source: ICIS news]

SINGAPORE (ICIS news)--Formosa Petrochemical Corp has posted a 70% surge in November petrochemical sales from the same period in 2006 after bringing on stream a new cracker earlier in the year, Taiwan’s largest olefins producer said on Friday.

Petrochemical sales in November reached New Taiwan dollars (NT$) 19.9bn ($614m) from NT$11.7bn in the year-ago period, it said in a statement on its website.

Total revenue for the first 11 months this year reached NT$619.5bn, up 49% from the same period of 2006.

The company started up Asia’s largest cracker, with an ethylene capacity of 1.2m tonnes/year, at the end of May.

($1 = NT$32.41)

By: Florence Tan
+65 6780 4359

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