TAIPEI, May 3, 2024
/PRNewswire/ -- Far Eastern New Century (FENC) leads global
sustainable recycled polyester industry. Boasting the world's
largest production of food-grade recycled polyester, FENC
oversees a seamlessly integrated production and sales system
spanning from recycled feedstock to end product applications.
Through FENC's vast recycling capacity, FENC recycle over 22
billion pcs of post-consumer recycled PET bottles into a high
quality sustainable products. The company creates value from
waste, repurposing the bottles into food and non-food packaging,
hygienic materials, automotive textiles, home furnishings, sports
apparel, footwear and more. Partnerships with world-class brand
clientele like Coca-Cola, Pepsi, Suntory, Fiji Water, F&N,
Asahi, L'Oreal, Unilever, P&G, Nike, adidas, and lululemon are
testaments to both the Company's cutting-edge recycling technology
and its unwavering commitment to the circular economy.
FENC's footprint in recycled polyester production stretches
across Taiwan, Mainland China,
Japan, the US, and Southeast Asia. To bolster its leadership and
propel the polyester sector towards greener pastures, FENC is
actively expanding its capacity for high-value food-grade recycled
polyester. Notably, the newly inaugurated Kansai plant in Japan, complementing the existing Kanto
facility, is poised to solidify FENC's dominance in Japan's recycled polyester market.
Furthermore, the imminent launch of Vietnam's recycling plant in the latter half
of 2024 not only contributes to local recycling infrastructure but
also advances Vietnam's circular
economy agenda. Moreover, in Malacca,
Malaysia, FENC broke ground on an expansion project for its
recycled polyester factory in April
2024. Scheduled for production by the end of 2025, this
expansion will create a fully integrated upstream-downstream
operation with the existing bottle manufacturing plant, thus
enhancing value creation along the supply chain. Across the
Pacific, FENC's US plant completed its capacity expansion in the
first half of 2024, injecting renewed vitality into the nation's
circular economy.
For over three decades, FENC has championed the circular
economy. With agile production and sales strategies, it has secured
regional supply chain advantages within the recycled polyester
sector, fostering sustainable development across the industry
landscape. In 2023, FENC earned widespread acclaim for its
exemplary Environmental, Social, and Governance (ESG) performance,
topping the Minderoo Foundation's global plastics circularity
evaluation, ranking among the top 2.5% in the global chemical
industry according to Sustainalytics' ESG risk ratings, and
securing a spot in the top 5 of Taiwanese listed companies in FTSE
Russell's ESG Ratings.
About Far Eastern New Century (FENC)
FENC was established in 1949. It is an international company,
based in Taiwan, operating in USA,
Japan, Mainland China,
Vietnam, Malaysia, Philippines and many other countries/regions.
With over 30,000 employees, FENC is the only polyester
supplier in the world vertically integrated to offer a product
spectrum spanning from raw materials to consumer products. The
company's 2023 consolidated revenues reached USD$8.3 billion with USD$22 billion in total assets.
To learn more about FENC please visit http://www.fenc.com
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SOURCE Far Eastern New Century Corporation