Formosa Plastics Group
Formosa Plastics Group (FPG) is a large Taiwanese conglomerate founded in 1954 by Wang Yung-ching and Wang Yung-tsai. It is based in Kaohsiung and has diverse interests, including plastics and chemicals, and holdings in electronics components such as VIA Technologies and Nanya Technology.
The group started with plastic and chemical operations and built a system of related companies. Formosa Plastics Corporation produced PVC resin, Nan Ya Plastics Processing Corp. bought and turned those resins into finished products, and New Eastern Plastics Product manufactured consumer goods from those resins. Nan Ya and New Eastern later merged. In the 1990s, FPG expanded upstream with an ethylene-producing naphtha cracker plant and a coal-fired power plant, completing a wide chain of production.
Beyond plastics, FPG diversified in Taiwan into textiles, electronics, medicine, cosmetics, automobiles, gasoline retail, and petroleum refining. Overseas, the group expanded mainly in the United States and China. It owns oil wells and natural gas lands in Texas, an ethylene plant in Point Comfort, Texas, and many factories across China, including a power plant in Fujian Province.
FPG also runs non‑manufacturing ventures, most notably the Chang Gung Memorial Hospital system, started in 1976 and now serving five cities in Taiwan. The hospital network includes the Linkou branch, known for performing Asia’s first liver transplant in 1984.
The group has faced environmental and social controversy. In 2016, FPG backed the Formosa Ha Tinh Steel project in Vietnam, which caused a major pollution incident: about 115 tons of dead fish washed ashore and tens of thousands of people were affected. FPG pledged around $500 million in compensation. A 2018 case related to the incident led to a 14-year prison sentence for a Vietnamese defendant involved in a related livestreamed lawsuit.
FPG has also pursued large overseas projects, including plans for a fossil fuel plant in Louisiana called The Sunshine Project, estimated at $9.4 billion.
In Taiwan, the group’s flagship naphtha cracker project faced opposition and regulatory hurdles, but the Mailiao project in Yunlin County eventually moved forward after decades of debate and protest.
Financially, FPG reported revenue of about $6.7 billion in 2020.
This page was last edited on 3 February 2026, at 00:51 (CET).