Far Eastern Ishizuka Green PET Corporation (hereinafter referred to as “FIGP”), a subsidiary of Far Eastern New Century Corporation (hereinafter referred to as “FENC” or “the Company”), announced today (May 6th) that it will construct a recycled PET plant with an annual capacity of 100,000 tons in Himeji-shi, Hyogo Prefecture in the Kansai region of Japan. The expansion is in line with the global trend of sustainable development, as well as the green commitment of brand-name customers and their timetable for achievement of objectives. It will also solidify leadership position of the Company in the Japanese recycled PET market.
In 2012, FENC and Ishizuka Glass Co., Ltd. formed a joint venture, FIGP, in Ibaraki Prefecture in the Kanto region of Japan. Its first recycled PET production line started its commercial run in 2014, together with the newly finished second production line, reaching total annual capacity 90,000 tons in 2021. FIGP is currently the largest recycled PET producer in Japan supplying food-grade packaging and fiber applications.
As of today, FENC is the world’s second largest producer of recycled PET and third largest of PET resins in terms of the capacity. Since 1988, the Company has committed to develop eco-friendly production and various green products at its production sites in Taiwan, Japan and the United States.