Formosa Chemicals & Fiber Corp , a unit of Formosa Plastic Group, is planning to shut down its plant in Taiwan from first week of October government declined to renew permits for its cogeneration equipment.
Formosa Chemicals has applied for the renewal of license for the power plant equipment, however the Changhua county government insisted the company apply for a new permit as the amount of coal and steam used during the manufacturing process has changed over the intervening decades, said vice chairman Hong Fu-yuan.
The plant mainly makes textile-related materials, such as rayon staple fiber and nylon fiber.
“We are facing a major crisis,” said the vice chairman. “We have stopped shipping raw materials used in making products today,” he said, adding that the application for renewal has been rejected 37 times by the county government.
County government officials couldn’t be reached immediately for comment.
A shutdown of the plant would affect 1,000 workers. About half of its output is shipped overseas, and the plant generates about T$10 billion ($320 million) in annual revenues, accounting for about 3 percent of the company’s total revenue.
Loop Industries has partnered with Ester Industries to create a manufacturing facility in India to produce low-carbon recycled rDMT and…
Silk Laundry introduces its latest collection, "A View," merging conservation with fashion to foster "wearable conversations" about sustainable living.
Under Armour has introduced its first product utilizing Neolast: the Vanish Pro T-shirt, boasting lightweight, stretchy, breathable, and fast-drying qualities.
DKNY and Dubit have introduced a virtual collection of handbags, hats, and jackets from its new 'Heart of New York'…
Archroma, a leading provider of sustainable specialty chemicals, is set to unveil a comprehensive array of denim solutions at the…
Xefco has successfully secured US$6.9m in funding to advance the commercialization of its groundbreaking water-free textile dyeing and finishing solution.