Textiles laid the foundation for the future success of Far Eastern Group. Far Eastern Textiles Co., Ltd. was incorporated in 1949 (the company’s name was changed to Far Eastern New Century Co., Ltd. in 2009). As of now, revenue from the textile business accounts for one fifth of group-wide revenue, and still serves as an important core business for the Far Eastern Group.
Far Eastern New Century formed the Synthetic Fiber Division and Textiles Division as part of a global strategy and to take advantage of group synergies. The Synthetic Fiber Division includes Far Eastern New Century's Hsinpu fiber plant and Kuanyin plant in Taiwan, Far Eastern Industries (Shanghai) Ltd., Wuhan Far Eastern New Material Co., Ltd., Far Eastern Ishizuka Green PET Corporation and the largest domestic Nylon 66 corporation – Far Eastern Fibertech Co., Ltd. In 2015, the annual capacity of polyester production in this division is expected to exceed 2 million tons, making the division one of the top five polyester producers globally. Other products include polyester chip, PET bottles, PET films, polyester fiber etc. Downstream applications of these products are extensive and can be seen in healthcase, food and beverages, computers, communications, and consumer electronics, vehicle manufacture and transportation, and sports clothing. Far Eastern New Century is ahead of other firms in the industry as it seeks to enter into green industry. Other than extensively using recycled polyester and biodegradable material, Far Eastern New Century invests in the application and promotion of biomass material as a viable substitute for traditional petrochemicals.
The Textiles Division has production sites in Taiwan, Southeast Asia, and Mainland China. Since 1997, the division has gradually built spinning, knitting, dyeing, industrial fabrics and apparel production locations in Mainland China. In 2002, the division built an apparel factory in Vietnam to take advantage of benefits offered by ASEAN under various free trade agreements. In 2015, Far Eastern New Century expanded its investments in Vietnam for a vertically integrated production site and began production successfully. Vietnam will become the third vertically integrated production site of Far Eastern New Century, which started garment production in Vietnam in 2002, besides the ones in China and Taiwan.
Because Far Eastern New Century has upstream to downstream production capacity, is forward-looking and has superb R&D capability, it has become one of the top choices as a supplier of materials for major international brands.
Applications of Far Eastern New Century's Products