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Formosa Chemicals sees net profit quadruple in 2009

March 24/2010

March 24 (China Knowledge) -- Taiwan-based Formosa Chemicals & Fibre Corp, one of the four largest units of the Formosa Plastics Group, announced Friday that its net profit increased fourfold to NT$29.44 billion in 2009 from NT$6.1 billion in 2008.


Earnings per share were NT$5.17 last year, up from NT$1.10 in 2008, according to the company"s annual report.


However, the company"s revenue last year slid 12% to NT$219.73 billion from NT$249.82 billion in 2008.


Analysts said that the robust growth in net profit was mainly due to mainland China"s strong demand for petrochemical products.


Last week, Formosa Chemicals obtained approval from its board to issue NT$10 billion in seven-year unsecured corporate bonds to repay debt and improve its financial structure.

Formosa Chemicals sees net profit quadruple in 2009

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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