Abstract
The new Formosa Plastics Group petrochemical complex in Mailiao on the central west coast of Taiwan is nearing completion. The first of two crackers will go onstream Oct. 10, the date that will be considered the official launch of the complex. As they become operational over the next two years, the new facilities are expected to double the sales of Formosa Group to about $20 billion per year. About as large as Singapore's entire chemical industry, the complex will make Taiwan self-sufficient in a whole range of industrial chemicals. The new facilities will begin production just when most industrial chemicals are in oversupply in Asia. Although this is not what Formosa originally had hoped for, it will allow its employees to experience firsthand a maxim coined by Wang Yung-ching, the 81-year-old chairman and founder of the group: If you enter the ice cream business, you're better to start up during the winter. Just as success ...
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