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Far East New Century Taiwan (FENC) successfully acquired M&G's £800 million PET plant in Apple Grove, West Virginia, and its research and development base
in Ohio for $33.
5 million.
Far Eastern New Century entered the PET industry quite early, not only the first manufacturer in Asia to produce PET bottles, but also the first in Asia and the world's top five PET manufacturers, with production bases in Taiwan and mainland China, with a production capacity of about 2 million tons in 2017; Next
, a new 400,000-ton PET plant in Vietnam is under construction.
Production is scheduled to start in June 2018 with an annual production capacity of approximately 400,000 tons
.
If the US PET plant is successfully put into operation in 2018, bringing a contribution of 360,000 tons, adding 400,000 tons to the Vietnam plant, Far East New will add 38% of its production capacity in 2018, making a big leap to 2.
76 million tons
.