Formosa Petrochemical's net sales rise by a third

07 January 2008 09:10  [Source: ICIS news]

SINGAPORE (ICIS news)--Formosa Petrochemical Corp’s net sales for 2007 rose 32% year on year to New Taiwan dollars (NT$) 699.3bn ($23.5bn) after it brought on stream Asia’s largest cracker, the Taiwan-based company said on Monday.

 

Meanwhile, Formosa nearly doubled its petrochemical revenue in December to NT$24.6bn, from NT$13.1bn in the same period of 2006, it said on its website.

 

The company said earlier it aimed to increase its refinery throughout by 9.7% to 471,000 bbl/day and earmarked a 45% rise in ethylene production this year to reach 2.76m tonnes in 2007.

 

 ($1 = NT$29.80)

 

By: Florence Tan
+65 6780 4359

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