04/10/2010: GCN News [GlobalChannelNews]
Fire engulfs Taiwan paper plan:
A fire engulfed a plastic factory of Nan Ya Plastics in Chiayi County, southern Taiwan, yesterday (Sept. 3), further tarnishing the image of Formosa Plastics Group (FPG), Taiwan's leading manufacturing conglomerate, since it is the third fire inflicting the group in mere three months.
The inferno broke out at 8:30 a.m. and raged 16 hours before reducing the 2,000-ping (one ping equals 36 square feet) plant to ashes at wee hours today (Sept. 4). The plant produces pearl paper, used for calendar paper, with monthly revenue reaching NT$150 million. It will take at least one year for the company to rebuild the factory and resume production.
While the plant accounts for only a fraction of Nan Ya's revenue, reaching MT$160.9 billion a year, the fire dealt another major blow to the image of FPG, as the litany of fires in a short time has fostered widespread suspicion of the managerial integrity of the group in the post-Y.C. Wang era.
The fire broke out on the heels of two big fires inflicting FPG's naphtha cracking complex in Mailiao offshore industrial zone, in southern Taiwan's Yunlin County, in July. It is uncertain whether it would affect FPG's application for resuming the production of the olefine plant in Mailiao offshore industrial zone, following a fire on July 7.
Wu Chia-chao, president of Nan Ya, reported that production of pearl paper will be shifted to the company's plant in Nantong, China's Jiangsu Province, which, plus four production lines in the company's another plant in Chiayi, can cut the reduction of output to 30%.
He apologized for the black smoke shrouding the neighborhood during the fire and pledged to give neighbors proper compensation.
Fire engulfs Taiwan paper plan:
A fire engulfed a plastic factory of Nan Ya Plastics in Chiayi County, southern Taiwan, yesterday (Sept. 3), further tarnishing the image of Formosa Plastics Group (FPG), Taiwan's leading manufacturing conglomerate, since it is the third fire inflicting the group in mere three months.
The inferno broke out at 8:30 a.m. and raged 16 hours before reducing the 2,000-ping (one ping equals 36 square feet) plant to ashes at wee hours today (Sept. 4). The plant produces pearl paper, used for calendar paper, with monthly revenue reaching NT$150 million. It will take at least one year for the company to rebuild the factory and resume production.
While the plant accounts for only a fraction of Nan Ya's revenue, reaching MT$160.9 billion a year, the fire dealt another major blow to the image of FPG, as the litany of fires in a short time has fostered widespread suspicion of the managerial integrity of the group in the post-Y.C. Wang era.
The fire broke out on the heels of two big fires inflicting FPG's naphtha cracking complex in Mailiao offshore industrial zone, in southern Taiwan's Yunlin County, in July. It is uncertain whether it would affect FPG's application for resuming the production of the olefine plant in Mailiao offshore industrial zone, following a fire on July 7.
Wu Chia-chao, president of Nan Ya, reported that production of pearl paper will be shifted to the company's plant in Nantong, China's Jiangsu Province, which, plus four production lines in the company's another plant in Chiayi, can cut the reduction of output to 30%.
He apologized for the black smoke shrouding the neighborhood during the fire and pledged to give neighbors proper compensation.
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