Print
E-mail
Comment
Rate
Formosa mourns chairman
 |
| Y.C. Wang |
Formosa founder Y.C. Wang. Known simply as Chairman, he died in his sleep early on Wednesday, Oct. 15, 2008 at the age of 92, during a business trip to New Jersey.
A Memorial Area has been set up at Inteplast Group in Lolita that can be visited to express respects. The area will be open to employees and visitors from 8 a.m. to 6 p.m. each day through Oct. 24. Both flowers and cards expressing condolences will be accepted. Other gifts including monetary contributions are discouraged and will be returned.
Chairman Y. C. Wang first visited Calhoun County in 1978. This led to the construction of the company’s first plant in the United States. The Vinyl plant at Point Comfort began construction in 1980 and was operating in 1983. Subsequent expansions were in 1990, 1994, 1998 and 2002.
The present expansion has raised the number of employees on the Formosa site to about 2,050. This includes around 450 resident contractor employees. Expansion projects have about 1,000 construction workers on the site, which now includes 13 plants, with two under construction.
Wang established three trust funds for projects in this area. These include the $500,000 Memorial Hospital Trust, the $1 million Calhoun High School Scholarship Trust and the $1 million Religious Trust.
In Taiwan, Chairman Wang developed the 7,000 bed, non-profit Chang Gung hospital system that has six branches. This system is currently constructing a multi-billion (New Taiwan dollars) cyclotron for proton beam radiation therapy for cancer treatment that is currently only available in the United States and Japan. Wang also established a nursing college, and a medical-engineering university.
Chairman Wang was a great entrepreneur and a great humanitarian. Using a loan obtained from the U.S. government, in 1954 he founded a small company to produce polyvinyl chloride (PVC), the highly versatile plastic resin. Thanks to his vision and his philosophy of frugality, continuous improvement, and rationalization of operations, that small company has grown to be one of the largest privately owned industrial operations in the world. The Formosa Plastics Group makes products ranging from petrochemicals to integrated circuits to textiles and has operations in Taiwan, Mainland China, Indonesia, Vietnam and the United States. The highly integrated company now has annual sales of over $60 billion in USA dollars and over 94,000 employees. Company operations in the United States began in 1978; its first grass-roots, integrated manufacturing facility in the U.S. was built in 1981 at Point Comfort.
A Memorial Area has been set up at Inteplast Group in Lolita that can be visited to express respects. The area will be open to employees and visitors from 8 a.m. to 6 p.m. each day through Oct. 24. Both flowers and cards expressing condolences will be accepted. Other gifts including monetary contributions are discouraged and will be returned.
Chairman Y. C. Wang first visited Calhoun County in 1978. This led to the construction of the company’s first plant in the United States. The Vinyl plant at Point Comfort began construction in 1980 and was operating in 1983. Subsequent expansions were in 1990, 1994, 1998 and 2002.
The present expansion has raised the number of employees on the Formosa site to about 2,050. This includes around 450 resident contractor employees. Expansion projects have about 1,000 construction workers on the site, which now includes 13 plants, with two under construction.
Wang established three trust funds for projects in this area. These include the $500,000 Memorial Hospital Trust, the $1 million Calhoun High School Scholarship Trust and the $1 million Religious Trust.
In Taiwan, Chairman Wang developed the 7,000 bed, non-profit Chang Gung hospital system that has six branches. This system is currently constructing a multi-billion (New Taiwan dollars) cyclotron for proton beam radiation therapy for cancer treatment that is currently only available in the United States and Japan. Wang also established a nursing college, and a medical-engineering university.
Chairman Wang was a great entrepreneur and a great humanitarian. Using a loan obtained from the U.S. government, in 1954 he founded a small company to produce polyvinyl chloride (PVC), the highly versatile plastic resin. Thanks to his vision and his philosophy of frugality, continuous improvement, and rationalization of operations, that small company has grown to be one of the largest privately owned industrial operations in the world. The Formosa Plastics Group makes products ranging from petrochemicals to integrated circuits to textiles and has operations in Taiwan, Mainland China, Indonesia, Vietnam and the United States. The highly integrated company now has annual sales of over $60 billion in USA dollars and over 94,000 employees. Company operations in the United States began in 1978; its first grass-roots, integrated manufacturing facility in the U.S. was built in 1981 at Point Comfort.
 |
 |
|
| City eyeing new subdivision annexation | Auction lights out |
Article Rating
Reader Comments
The following are comments from the readers. In no way do they represent the view of portlavacawave.com.
