Formosa Plastics Corporation is one of the world’s largest producers of plastics and petrochemicals. Headquartered in Kaohsiung City, Taiwan, the company was founded in 1954 by brothers Wang Yung-tsai and Wang Yung-ching.
Formosa Plastics was launched as Fu Mao Company through a $680,000 loan from an American economic aid mission. An early adopter of vertical integration, the company created downstream businesses to transform its PVC resin into consumer products, with Nan Ya Plastics Corporation becoming its first flagship operator.
The company began an aggressive international production strategy in the 1980s, investing significantly in U.S. manufacturing facilities. By the mid-1980s, 85 per cent of Formosa’s production had been exported.
The company then diversified into specialty chemicals during the 1990s, coinciding with the growth of the computer industry. It grew ancillary segments in power generation and steel production throughout the 2000s.
Today, the group controls five major companies: Formosa Plastics, Nan Ya, Formosa Chemicals, Formosa Petrochemical, Formosa Hajing Steel. It operates production facilities in Taiwan, the United States, China, Vietnam, the Philippines and Indonesia.
- Family name: Wang family
- Sector: Diversified Industrial Product
- Founded: 1954
- Founders: Wang Yung-tsai and Wang Yung-ching
- Country: Taiwan
- Company headquarters: Kaohsiung City, Taiwan
- Chairman/President: Jason Lin
- Revenue: US$5.8 billion
- Family ownership: >50%
- Employees: 7,077
- Website: https://www.fpg.com.tw/tw
