Reported about 1 year ago
Due to declining demand from mainland China and losses incurred at the mainland base, Formosa Plastics Group formulated a strategy for global sales and product transformation. The company successfully seized opportunities in markets like India, Southeast Asia, Australia, and the Middle East, while expanding operations in the US and Europe with high-value products. They are prioritizing investments in Taiwan and the US to support market growth and upgrade to high value products, focusing on digital transformation, energy transition, circular economy, and new business development amid changing global industrial trends. Formosa Plastics Group is transitioning towards high-value products and sustainable solutions to combat increasing competition from mainland China.
Source: YAHOO