The U.S.-based JM Eagle Co., headed by Wang Wen-hsiang, the son of Formosa Plastics founder Y.C. Wang, recently announced that it would budget US$440 million, or NT$12.7 billion, to set up an operating headquarters and a new PVC (polyvinyl chloride) plant in Tianjin, China.
The project is a part of the 15.3 billion renminbi investment agreements inked by Tianjin-Taiwan Investment Association and Tianjin Harbor Bonded Zone authority, with the agreement calling for JM Eagle to also set up an industrial R&D center and a production base.
JM Eagle is the world`s largest manufacturer of PVC pipes headquartered in Los Angeles, California that has focused on the north American market over the past few years, with annual sales exceeding US$1.6 billion.
In addition, Taiwan Glass Corp., Taiwan`s largest producer of high-end glass, will invest US$65 million to set up a low-E glass production line in Jinhai, Tianjin Municipality. Since the beginning of last year, the company has added seven production lines in China.
Taiwan Glass`s annual output of low-E glass is 93,600 metric tons, but will likely raise such output to 500,000 metric tons by the end of 2012.
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