Taiwan’s Far Eastern New Century expanding circular economy in PET

10 May 2024 16:06

Center for Green Economy

Taipei - Far Eastern New Century Corporation, or FENC, currently recycles more than 22 billion pieces of post-consumer recycled polyethylene terephthalate, or PET, plastic bottles and other products. Now the company is expanding facilities in Japan, Malaysia, Vietnam, and the US.

Taiwan’s Far Eastern New Century Corporation is expanding its capacity to recycle polyester sustainably and create circular economies for good packaging and other uses.

Recently, executives opened the Kansai plant in Japan, their second facility in the country. They also expect to open a new recycling plant in Vietnam in the second half of 2024. Earlier this year, they expanded their American plant. In April, they broke ground on a new plant in Malaysia that they expect to begin operating in late 2025. 

These moves will significantly expand FENC’s footprint. “For over three decades, FENC has championed the circular economy. With agile production and sales strategies, it has secured regional supply chain advantages within the recycled polyester sector, fostering sustainable development across the industry landscape,” said the company.

The new facilities will help FENC cut carbon emissions by 20 percent by next year and 40 percent by 2030, and achieve net-zero emissions by 2050, said an April 19 press release.

At present, the company recycles more than 22 billion pieces of post-consumer recycled polyethylene terephthalate, or PET, bottles into new products, including food and non-food packaging, hygienic materials, automotive textiles, home furnishings, sports apparel, and footwear, according to a May 3 press release.

Operating throughout Taiwan, China, Japan, Southeast Asia, and the United States, the company supplies major brands like Coca-Cola, Pepsi, Suntory, Fiji Water, F&N, Asahi, L'Oreal, Unilever, P&G, Nike, adidas, and lululemon. Worth $22 billion in total assets and 30,000 employees, the company's 2023 consolidated revenues reached $8.3 billion. ce/jd

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