FENC Uncaps Major Success with Global Sustainable Expansion in Recycled Polyester
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
SOURCE Far Eastern New Century Corporation
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