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Formosa Plastics told to contain pollution by Taiwan Government

March 23/2010

March 23 (Bloomberg) -- Formosa Plastics Corp., the worlds second-biggest maker of polyvinyl chloride (PVC) was told by the Taiwanese government to curb pollution at a plant or it may be fined.

Tests showed the soil and groundwater underneath Jenwu plant have been contaminated, the Environmental Protection Administration in Taipei said in a statement on its web site yesterday. The PVC maker must contain the pollution or pay a fine of as much as NT$750,000 ($23,600), the EPA said.
Formosa Plastics started making PVC in Jenwu in the southern county of Kaohsiung in 1972, according to its 2008 annual report. The company should actively prevent pollution from spreading and improve the conditions, the EPA said.

A lack of adequate facilities in the early days and other factors including earthquakes had caused waste water from the plant to seep into the ground, the company said in a statement to the Taiwan Stock Exchange today. Formosa Plastics has since built a waste-water treatment plant that prevents the pollution of groundwater, according to the statement.

The shares fell 1.6 percent to NT$69.90 in Taipei trading at 11:33 a.m. today. The benchmark Taiex stock index declined 0.8 percent.
Formosa Plastics has plants in other locations, including western Taiwans Mailiao.

Formosa Plastics Told to Contain Pollution by Taiwan Government

MRC Reference

Formosa. The share in the Russian market in 2008:

 PVC-S - 3.0%;

PP - 0.4%.


Annual growth sales in Russia :
 PVC - 79 % (over the last year) ;

PP - 272 % (over the last 3 years).


 Supply by processing technologies:
profile extrusion

 film extrusion


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