Taiwan's Formosa Petrochemical execs resign over Mailiao fires

01 August 2011 08:33  [Source: ICIS news]

SINGAPORE (ICIS)--Two top executives of Formosa Petrochemical Corp’s (FPCC) have resigned from their posts following a string of fire incidents at the Mailiao petrochemical complex, the latest of which occurred just over the weekend.

The company’s chairman Wilfred Wang and its president Su Chi-yi have stepped down, a company spokesperson said on Monday, saying the executives “wanted to take responsibility” for not being able to resolve the problems at the Mailiao complex.

The petrochemical complex in northwestern Taiwan was hit by fire six times this year, with the last two happening at less than a week’s interval in late July.

Market sources said the July fires will likely push back the restart of FPCC’s 700,000 tonne/year No 1 cracker, which was shut on 12 May.

FPCC was initially planning to resume operations at the No 1 cracker before mid-August, before the scheduled maintenance at its 1.2m tonne/year No 3 cracker in Mailiao.

“We hope we can restart before mid-August,” said the spokesperson but there is no certainty that this could be achieved.

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By: Pearl Bantillo
+65 6780 4359



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