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Another US acquisition for Far Eastern New Century

07/06/2019
Polyester manufacturer Far Eastern New Century (FENC) has acquired a 90% stake in US PET recycler Phoenix Technologies International. It paid approximately $10 million as part of this deal.

The Taiwanese company has said Phoenix’s plant in Bowling Green Ohio, has an output of 36,000 tonnes of recycled PET per year. 

This is Far Eastern’s third investment in the US in the past 18 months. It was part of a joint venture that acquired a plant in Corpus Christi, Texas in January. Prior to that, it bought a PET plant in West Virginia from M&G Polymers. 

Related stories:

FENC converts 6,000 tonnes of ocean plastic in 2020 06/08/2021
FENC plans recycled PET plant in Japan 17/05/2021
Changes at the top for FENC 08/01/2021
FENC sets out business strategy at Titas 14/10/2020
FENC’s recycled plastic yarn saves 2,800 tonnes from ocean 28/08/2020
FENC and Coca-Cola team up for chemical recycling of PET 05/08/2020
FENC’s chief operating officer to retire 11/12/2019
FENC will share new textile recycling solution 18/10/2018
Textile industry ‘an example to Taiwanese economy’ 17/10/2018
Taiwan’s textile prowess on show at Titas 16/10/2018
FENC unveils new PET recycling solution ahead of Titas 10/10/2018
FENC unfazed as adidas plans 5 million pairs of Parley shoes 02/10/2018
FENC confirms high demand for recycled polyester 01/10/2018
Far Eastern New Century snaps up PET plant in US 08/02/2018
FENC lists ‘green’ bonds on Taipei stock exchange 11/01/2018
New Vietnamese production plant for FENC 06/04/2017

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