Far Eastern New Century Corporation is one of the largest producers of polyester staple fibers in Taiwan, ranking top three for its products of non-woven polyester staple fibers in the world. In addition, the company has multiple production lines in Taiwan and China, providing raw materials for high value-added products in medical supplies, healthcare, sports, automotive and household appliances to customers with internationally renowned brands. To consolidate its position as an industry leader, the company will continue expanding production capacity.
Founded in 1949, Far Eastern New Century and its subsidiaries have diversified businesses ranging from petrochemical, polyester, textiles, telecommunication, property development, etc. The group does a turnover of $20 billion, of which nearly one-third comes from the Textile Division.
The plants in Taiwan and China turn out products like POY, DTY, HDI, etc. In addition, the company is the primary supplier of nylon 6,6 products and leverages its diverse and comprehensive production lines to foster world-class competitiveness.
Apart from specialized products such as TopCool+, TopHeat+ and outlast fiber (thermal management fiber), the company is also leading the industry in terms of development and applications for sustainability PET fiber. These include Bio-TopCool+ (sourced from bio-based 1,4 butanediol), polylactic acid (PLA) fibers (sourced from corn), Top Green recycled yarns (sourced from recycled PET bottles), and so on.
Further, Top Green recycled yarns have been adopted among renowned brand names such as Nike, Adidas, Decathlon, H&M, etc.
The company has showcased its functional fabrics used in world-class sport events, and the future application on functional fabrics is expected.
Far Eastern’s biggest strength is its R&D with over 200 highly qualified professionals working on solutions for the future. The company has recently launched 100% Bio PET for fabric which will get into commercial production in the next three-four years.
TPP opportunities
TPP member-countries consider a major market to Taiwan’s textiles and apparel goods because more than 30 per cent of Taiwan’s textiles are exported. According to the “yarn-forward” rule, a supplier’s production process from yarn must be completed in TPP countries to enjoy duty-free access to the free trade area. Therefore, in order to capitalize on the TPP opportunities, the company has established factories in Vietnam that streamline the process from producing yarn, weaving, knitting, dyeing and finishing, and manufacturing apparels. This approach will further its vertical integration and maximize its advantages in trade.
Far Eastern’s cotton mills in Taiwan and China focus on differentiated products. Its cotton reserves remain at an efficient level to ensure sustained profitability. For its knitted fabrics and apparel business, it has had long-term co-operation with renowned international brands. Furthermore, the company has focused on the supply chain for fast fashion to develop high value-added products with fuse style and functionality. Going forward, the company will continue to differentiate itself from competitors through the advantages of vertical integration.
Supported by integrated supply chains, Far Eastern’s textiles business is internationally known for its cutting-edge technologies in smart textiles, green materials, and functional fibers/fabrics. The company’s three production bases are located in Taiwan, China and Vietnam.
In its Taiwan base, Far Eastern is targeting the development of new materials and technologies. In China, the production process is vertically integrated and the location is close to the end market. In Vietnam, Far Eastern has been planning to build a production line that runs from producing yarn, knitting, dyeing and finishing to manufacturing ready-to-wear garments. The company enjoys duty-free access to all TPP markets by complying with the “yarn forward” rule.
Far Eastern’s strong global network will continue showcasing Taiwan’s popular textile products around the world.