Formosa Plastics to Invest NT$29.2 Billion in Strategic Shift Toward Semiconductors and More

Central News Agency, Taipei, May 28. After two consecutive years of losses, Formosa Plastics is going all-in on transformation. Chairman Kuo Wen-pi announced at the annual general meeting today that the company will invest NT$29.2 billion to promote advanced product technology transfers and collaborative development, focusing on three major areas: semiconductors, green energy/environmental protection, and healthcare. Kuo highlighted that the company's layout includes semiconductor chemicals such as electronic-grade hydrogen, ammonia, hydrochloric acid, and sulfuric acid, as well as key materials like ruthenium precursors for atomic layer deposition and photoresist thinners. A total of 27 products are being developed, with an estimated annual output value increase of NT$30 billion. Additionally, the company is upgrading and expanding, with nine ongoing transformation and expansion projects totaling NT$24.3 billion, expected to come online starting in the second half of this year. Projects include expanding carbon fiber production in Renwu, Taiwan, and building electronic-grade hydrogen plants in Mailiao. Overseas, the company is building a chemical terminal in Ningbo, China, and a 1-hexene plant in Texas, USA, scheduled to start production in August.