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History Of Development

1954

=On July 26, after obtaining a U.S. aid loan for US$798,000, registration of Formosa Plastics Corporation in Kaohsiung to produce PVC resin was initiated.  Permission was granted on October 30.

1957

=On March 18, Formosa Plastics Corporation commenced operations and was producing PVC resin at a daily capacity of 4 tons. Its Chinese name was changed from “福懋” (“Fu Mao”) to “台灣 , but the English name remained unchanged.

1958

=On August 22, Nan Ya Plastics Processing Corporation was founded to establish a secondary processing industry of plastics.

1963

=On February 5, Carlin Plastics Product Corporation was established to specialize in the manufacturing of tertiary processing of plastic products.  The corporation’s name was renamed to New Eastern Plastics Product Corporation on August 8.

=On December 1, Ming-Chi Institute of Technology was founded.

=Formosa Plastics Corporation expanded the capacity of its Kaohsiung plant for PVC resin production to 2,100 tons monthly, which entrenched a firm footing for the corporation’s future developments.

1964

=On October 30, Formosa Plastics Transport Corporation was established to handle the inter corporations’ transportation of cargoes.

1965

=On March 5, Formosa Chemicals & Fibre Corporation was founded, which established a foothold to enter into the textile industry.

1967

=On August 18, New Eastern Plastics Product Corporation was incorporated into Nan Ya Plastics Processing Corporation, and the corporation was then renamed to Nan Ya Plastics Corporation.

=On November 1, Formosa Chemicals & Fibre Corporation went into operation, with capacities of producing 50 tons of wood pulp and 45 tons of rayon fiber daily.

1968

=In May, the Group Administration was founded.

1970

=In January, Formosa Chemicals & Fibre Corporation produced its first pack of washing powder and expanded its operation into the detergent industry.

1973

=In January, the first proposal to construct a naphtha cracking plant by the Group was submitted to the government, but the proposal was denied in May.

1976

=On February 5, P. T. Indonesia Nan Ya Indah Plastics Corporation was established in Indonesia; this was the first overseas investment of the Group.

=On December 1, Chang Gung Memorial Hospital was founded as a non-profit organization and opened in Taipei.

1978

=On October 17, Formosa Plastics Corporation, U.S.A. was established in New Jersey by Formosa Plastics Corporation.

=On December 1, Chang Gung Memorial Hospital opened a main branch in Lin kou and this branch became the largest hospital in the Asia region.

1979

=On July 12, Nan Ya Plastics Corporation, U.S.A. was established in Delaware by Nan Ya Plastics Corporation.

1980

=On March 6, Formosa Plastics Marine Corporation, Liberia was established and registered in Liberia.

1983

=In February, Formosa Plastics Corporation, U.S.A. had completed the construction of its plant and started producing primary processing of plastic products.

=On July 6, in order to establish a cooperative education program, a 2-year nursing department program was founded by both Chang Gung Memorial Hospital and Ming-Chi Institute of Technology. The Chang Gung Institute of Nursing grew out of this department.

=In December, Nan Ya Plastics Corporation in collaboration with Hewlett Packard Taiwan Ltd. set up the Printed Circuit Board project unit, which formed a springboard for Nan Ya Plastics Corporation to launch itself into the electronics industry.

1984

=On March 23, Chang Gung Memorial Hospital in Lin Kou performed the first liver transplant operation in Asia.

1985

=On April 5, Chang Gung Memorial Hospital opened a branch in Keelung.

1986

=On January 1, Chang Gung Memorial Hospital opened a branch in Kaohsiung.

=On September 30, the proposal for the No. 6 naphtha cracking project was approved by the Ministry of Economic Affairs, after a thirteen-year struggle.

1987

=On April 1, Chang Gung Medical College was founded.

=On August 31, PFG Fiber Glass Corporation was established for the manufacture of electronic-grade glass fiber.

1988

=In June, Chang Gung Institute of Nursing was founded.

1989

=In December, Formosa Plastics Corporation, America and Nan Ya Plastics Corporation, America were simultaneously established in Delaware.

1991

=On February 4, Formosa Heavy Industries Corporation was established; its main products are automated warehouse systems, large-scale precision machinery, and cogeneration equipment.

=In August, it was announced that the No. 6 naphtha cracking project would be located in Mai-Liao, Yunlin county.

1992

=On April 6, Formosa Petrochemical Corporation was established to engage in oil refinery and marketing.

1993

=On April 4, the affiliated Children's Hospital of Chang Gung Memorial Hospital (Lin Kou Main branch) was inaugurated. It was upgraded into an autonomous unit with the official approval in 1997 and became the first Children's Hospital in Taiwan.

1994

=In May and June, Nan Ya Plastics Corporation set up plastics’ secondary processing plants in both Guangzhou and Xiamen in China.

=In July, construction for the No. 6 naphtha cracking project had commenced.

1995

=On March 4, Nan Ya Technology Corporation was established to engage in the production, marketing, research and development of DRAM.

=In August, Chang Gung Institute of Nursing set up a 5-year program designed to enroll aborigines; 100 aboriginal students were enrolled into the program at the commencement of the program.

=On November 21, Formosa Komatsu Silicon Corporation was established to instigate production of silicon wafers.  In 2006, the corporation had renamed to Formosa Sumco Technology Corporation.

1996

=On April 12, in response to the government’s encouragement of wanting private enterprises to invest and manage power plants, Mai-Liao Power Corporation was established.

=In June, Nan Ya Plastics Corporation took over Nantong Huafeng Co., Ltd. in Jiangsu province, China, to produce PVC leather and flexible PVC sheeting.

=On July 1, Chang Gung Memorial Hospital in Lin Kou instigated a Traditional Chinese Medicine department, where it started clinical services on August 1.

=On July 9, Nan Chung Petrochemical Corporation was established to produce raw materials of chemical fiber.

=On August 2, Formosa Plastics Maritime Corporation was established to provide shipping services for Mai-Liao port.

1997

=On August 1, Chang Gung College of Medicine and Technology was upgraded to Chang Gung University.

=On October 28, the Printed Circuit Board Division under Nan Ya Plastics Corporation became autonomous, and was upgraded to become Nan Ya Printed Circuit Board Corporation.

1998

=On May 8, Formosa Asahi Spandex Co., Ltd. was established to produce spandex fiber.

=On October 20, Formosa Automobile Corporation was established to enter the automobile industry.

=On December 7, the first completed No. 6 naphtha cracking project plant had conducted a successful trial run in Mai-Liao, and was outputting 450,000 tons of ethylene annually.

1999

=On February 5, Formosa Petrochemical Transportation Corporation was established to handle the transportation of oil products.

=On April 1, Formosa Oil (Asia Pacific) Corporation was established to take charge of planning and marketing gasoline and diesel.

=On June 8, Formosa Environmental Technology Corporation was established to research and develop methods to generate organic fertilizer from recycling kitchen leftovers.

=On September 21, The Chichi Earthquake of 1999 shocked Taiwan; the group itself donated a sum of NT$300 million, and adopted and reconstructed 16 elementary schools.

=On October 12, Chang Gung Biotechnology Corporation was established to invest and employ biotechnology in the health industry.

=On December 30, Formosa Daikin Advanced Chemicals Co., Ltd. was established to produce high purity hydrofluoric acid.

2000

=On April 20, Formosa Technologies Corporation was established to provide comprehensive and integrated e-services.

=On July 6, Formosa Plastics Marine Corporation was established to engage in the shipping of oil products island-wide.

=On September 2, the petrol produced by Formosa Petrochemical Corporation went on the market, supplying to all its subsidiary and petrol stations island-wide. It became the first private sector-owned petrol manufacturer in Taiwan.

2001

=On March 12, Chang Gung Nursing Home, affiliated to Chang Gung Memorial Hospital, was opened in Linkou.

=On August 8, Formosa Teletek Corporation was established for the production of Bluetooth wireless technology based communication products.

=On August 20, Formosa Idemitsu Petrochemical Corporation was established to be in charge of the sale of polycarbonate (PC).

=In December, Formosa Industries Corporation in Vietnam was established to manufacture chemical fiber and secondary processing plastic products.

2002

=On January 16, Chang Gung Memorial Hospital opened a branch in Chia-Yi.

=On May 1, Formosa ABS Plastics (Ningbo) Co., Ltd. went into operation and held the opening ceremony in Zhejiang, China. This marked the Group’s first official move to venture into the production of petrochemical raw materials of the China market.

=On June 26, Formosa Plasma Display Corporation was established to invest in the production of plasma display panels and modules.

=On August 1, Chang Gung Institute of Nursing was upgraded to Chang Gung Institute of Technology.

=On November 25, Formosa BP Chemicals Corporation was established to produce industrial acetic acid.

2003

=On January 23, Inotera Memories Inc. was established to engage in the production of 12-inch wafers.

=In May, the commencement of the 4th phase of the expansion plan for the No. 6 naphtha cracking project was announced, with an estimated investment of NT$130 billion. The total investment for phases 1 to 4 amounted to over NT$570 billion.

=In October, the Asia Pacific Energy Corporation was established in the Philippines to engage in the electrical power industry.

=On November 10, the Detergent Unit branched out from Formosa Chemicals & Fibre Corporation and became an independent corporation, the Formosa Biomedical Technology Corporation. In addition to detergent products, it became involved in the production, research, and development of skincare products.

=On December 15, Nan Ya Photonics Inc. was established to engage in the production, research and development of high brightness LED wafers and chips.

2004

=On August 1, Ming-Chi Institute of Technology was upgraded into Ming-Chi University of Technology.

=In December, Chang Gung Health and Culture Village was built; this facility provided comprehensive care and had a conducive environment for the elderly.

=The annual revenue generated by the Formosa Plastics Group exceeded NT$1 trillion, which amounted to 11% of Taiwan’s GNP.

2006

=On June 5, Chairman Wang Yung-Ching and Vice Chairman Wang Yung-Tsai handed over the management to the Executive Board.

2007

=The 4th phase of the expansion plan for the No. 6 naphtha cracking project was completed. It boosted the Formosa Plastics Group's annual revenues toward nearly NT$2 trillion, amounting to 15.4% of Taiwan’s GNP.

2008

=On May 6, Chang Gung Memorial Hospital in Xiamen was opened as the group’s initial attempt to extend the medical industry to Mainland China.

=On May 12, a powerful earthquake measuring 7.8 has hit China's southern province of Sichuan, China. Formosa Plastics Group took t immediate action and charitable donation RMB 100 million dollars for the reconstruction after the damaged caused by the earthquake.

=On May 20, Formosa Energy & Material Technology Co. Ltd. was established to develop and manufacture lithium iron phosphorous oxide, the new-generation green material for developing electric vehicles.

=In June, the Formosa Ha Tinh Steel Corporation was approved by the Vietnam government, and held a ground-breaking ceremony on July 6th.

=On September 6, Fujian Fuxin Special Steel Co. held a break groundbreaking ceremony in Fujian of China for the production of stainless steel.

=On October 15, one of the founders of FPG, Mr. Wang Yung-Ching passed away in the United States peacefully. The President presented an official commendation of his life-long contributions to the nation on his farewell ceremony.

2009

=On August 8, the FPG donated NT$1.2 billion for rebuilding after the Morakot typhoon devastated  Taiwan.

=On December 31, Yunlin branch of Chang Gung Memorial Hospital was established; it has assumed the responsibilities of providing 24-hour emergency services and improving the quality of medical services of Yunlin County coastal regions.

2010

=Board of Directors approved Formosa Industries (Ningbo) Co., Ltd. It will provide an investment exceeding US $16 billion to build a new plant producing petrochemical plants for capacity.

2011

=FPC has begun investing US $20 billion in construction on an ethane cracker, a propane dehydrogenation (PDH) in Point Comfort, Texas, U.S.A. Also, shale gas and oil will replace naphtha in the production of basic chemicals as their costs are lower

=On January 11, a groundbreaking ceremony for “Proton and Radiation Therapy Center” was held at Chang Gung Memorial Hospital Linkou Main Branch, It will provide an investment exceeding US $50 billion and also engage in Taiwan’s cancer research and treatment.

=On August 1, Chang Gung Institute of Technology was renamed as“Chang Gung University of Science and Technology”.

=In December, FPC and 9 other public companies set up the “Compensation Committee” to review compensation policies and systems for the corporate directors, supervisors, and managers, and to provide the Board of Directors with suggestions; this helped prevent compensation policies, guiding directors and managers to be engaged in corporate risky appetite behavior. All the three members serving on the Compensation Committee are independent directors.

2012

=FPG has a joint venture, “Formosa Mitsui Advanced Chemicals Co., Ltd.”, with Mitsui Chemicals Inc. for 50% shareholding each to produce electrolyte solution for lithium battery plants at Ningbo City, Zhejiang Province, China.

=In July, the government approved of the expansion of the Sixth Naphtha Cracker phase 4.7,which is expected to produce 40,000 tons of Hydrogenated Styrenic Block Copolymers (HSBC), which can strength high quality for Petrochemicals.

=On December 2, the Formosa Ha Tinh Steel Corporation (FHS) held the first blast furnace piling ceremony in Vietnam, launched a construction project, and planned to produce 7.1 million tons of crude steel each year in the first phase.

2013

=In August, the Formosa Plastics Corporation and 7 other public companies were also committed to the Authorized Economic Operator (AEO) certification; which enables goods imported and exported by FPG to enjoy the simplified lowest inspection ratio and other preferred arrangements, such as payment of the import/export taxes according to the monthly summary.

=On May 30, the “Formosa Resources Corporation” was established, which plans to use the funds to develop an iron ore mine for FPG.

=On April 20, 2013, a strong earthquake hit China's Sichuan province, Ya’an City. The Formosa Plastics Group took action by making a donation amounting to RMB 50 million dollars to rebuild the city.

=On March 18, the “Kraton Formosa Polymers Corporation” began as a joint venture of Kraton Corporation (USA) and Formosa Petrochemical Corporation (“FPCC”) to build, own and operate a 30 kilotonne per annum (ktpa) Hydrogenated Styrenic Block Copolymer (HSBC) plant at FPCC’s petrochemical site in Mailiao, Taiwan.

2014

=On December 2, a groundbreaking ceremony was held for the second “Proton and Radiation Therapy Center” at the Kaohsiung branch of Chang Gung Memorial Hospital (CGMH).

=On November 27, Mr. Wang Yung-Tsai, co-founder of Formosa Plastics Group, passed away peacefully. The President Ma Ying-Jeou, delivered an official commendation for his life-long contributions to the nation and industry as “Chief Engineer of Sixth Naphtha Cracking Project” on Mr. Wang Yung-Tsai’s funeral.

=On September 26, FPG was establishing “Formosa Plastics Development Corporation” and planning major renovations to the company’s Taipei headquarters. The group wants to turn its near four-decade-old building into a combination office and residential complex.

=On July 31, a series of gas explosions occurred in the Cianjhen and Lingya districts of Kaohsiung. FPG donated NT$ 2 million for the reconstruction after the damaged caused by the earthquake.

=There are several reasons why F.P.G preserved the late co- founder’s original office and established the “Foundation of Wang, Yung-Ching and Wang, Yung-Tsai Brothers’ Park.” First, it was a gesture to support the development of economic and trade zone with the Kaohsiung City Government. Secondly, F.P.G’s entrepreneurial base in Kaohsiung plants discontinued working and then its staffs and equipment were relocated

2015

=On December 25, the hot strip mill plant of the Formosa Ha Tinh Steel Corporation (FHS) produced the first hot rolled coil in Vietnam.

=On November 10, the “Proton and Radiation Therapy Center” was inaugurated at Chang Gung Memorial Hospital, Linkuo Main Branch of Wang Yung-Ching Center for Advanced Medicine. It was the largest proton therapy center of Southeast Asia and is also the first proton therapy center in Taiwan. The “Proton and Radiation Therapy Center” raised the bar for cancer treatment in Taiwan.

=On September 3, the Formosa Industries Corporation was established in Texas, U.S. to produce high density polyethylene (HDPE).

=On July 30, Japan’s JFE Steel Corporation announced that it would acquire a 5 stake in Formosa Ha Tinh Steel Corporation (FHS). JFE Steel will also provide the FHS with technical support.

=On May, 20 Nan Ya Plastics Corporation in Point Comfort Plant, Texas was established. It was a wholly-owned subsidiary of Nan Ya Plastics Corporation, America ("NPCA"), which provides the manufacturing of Ethylene Glycol.

=In April, the Chiayi County Government entered into the Cooperation Agreement on “Yong Zai Food Safety Building” with the Formosa Plastics Group. Both parties will work together to create a new era of food safety in Taiwan. It also announced that the first food safety Building would be constructed by the local government in Chiayi.

=In February, the China Steel Corporation’s (C.S.C) increased the shareholding in Formosa Ha Tinh Steel Corporation (F.H.S) from 5% to 25%.  The company said it would also provide the technical support and experience in steel for F.H.S, The increase of CSC's investment in F.H.S will further enhance the cooperative relationship between the two companies and will enable C.S.C to be more flexible for its deployment of investments in Southeast Asia and other surrounding regions in the future.

=In order to strengthen the supervisory functions of the Board of Directors, the FPC and other public companies established the “Audit Committee”, which consists of three independent directors and holds at least two meetings every year. The reasons for establishing this committee include ensuring the fair presentation of financial statements, appointing or dismissing certified accountants, ensuring appropriateness, independence, and performance, effectively implementing the Company’s internal control mechanisms, ensuring compliance with regulations, and controlling existing and potential risks faced by the Company.

2016

=On the 6th of February, a devastating earthquake with the epicenter in the Meinong District of Kaohsiung struke Tainan, FPG donated NT$ 50 million for the post-disaster reconstruction.

=On January 19, the Formosa Petrochemical corporation liaised with Idemitsu Kosan Co., Ltd to establish the “Idemitsu Formosa Specialty Chemicals Corporation” to Produce hydrogenated C-5 hydrocarbon resin.