Celebrating 70 years next year, Far Eastern New Century Corporation (FENC) has grown from humble beginnings into an industry leader.
Founded as a Taiwan-based textile producer, FENC is today a global leader in the polyester and textile industries with operations in Taiwan, China, Southeast Asia, Japan and the U.S.
“As an industrial manufacturing leader in bio-based and recycled polyester, we are building on our international reputation while promoting competitive niche products such as food-grade recycled PET (polyethylene terephthalate resins) and recycled polyester fibers,” said Donald Fan, COO of FENC’s Polyester Industry.
The company has become one of the top-three global PET suppliers and is the leading supplier in the world with a total virgin PET production capacity of over 2 million metric tons per year.
Over the past decade, FENC has also expanded its product range to deliver solutions to non-textile industries such as the electronics, food, automotive, construction and health care sectors. Today, the company’s non-textile products account for over 70 percent of the firm’s total product output.
In addition to increased environmental awareness and sustainability initiatives, continued growth is a priority for FENC. With recycling production lines in Taiwan and Japan, the company’s recycled PET output currently ranks No. 1 in Asia.
“It is our responsibility to lead by example,” said Fan. “We have invested heavily in research and development and have collaborated with world-class global brands in both supply chain and environmental initiatives. For the Oceans is a program that recycles ocean-found plastic bottles to produce sportswear and fashion items. We collaborated with Coca-Cola to develop the world’s first 100 percent Bio-PET bottle launched at Expo Milano 2015 and also unveiled the first 100 percent Bio-PET polyester shirt.”
Japan is FENC’s second-largest foreign market for PET products. As a country passionate about environmental awareness and sustainability, the demand for recycled products in Japan has grown substantially over the past decade.
In April 2013, FENC entered into a joint-venture partnership with Ishizuka Glass Co., Ltd. to establish the Far Eastern Ishizuka Green PET Corporation (FIGP). The company, based in Japan, produces and distributes recycled PET products.
“We expect FIGP’s current production capacity of 35,000 metric tons of recycled PET to double within two years,” said Fan. “Almost 85 percent of consumer waste is recycled in Japan and the Japanese understand the importance of sustainability, just as we do. Looking forward, our mission is to continue innovating and investing in the development of high-quality recyclables and bio-based materials for the betterment of environments in Taiwan, Japan and around the world.”