Taipei,Oct.5,2012(CENS)--China-based Grace T.H.W.Group recently announced its electronics subsidiary,Shanghai Grace Fabric Co.,Ltd.,will set up a fiberglass plant in Yunlin,Central Taiwan,at a cost of about NT$2.94 billion(US$100 million),and plans to go public in Taiwan.
Grace T.H.W.Group was founded in China by Winston Wang,eldest son of Y.C.Wang and founder of Formosa Plastic Group(FPG),who will return to Taiwan to invest the first time since starting his own business in China in 1996.
According to insiders,Grace T.H.W.'s electronic fiberglass fabric(E-glass fabric or fiberglass yarn woven on air-jet loom)is supplying Samsung,resulting in the firm's aggressive production expansion.
Basing the new plant in Yunlin is due to the firm's upstream supplier of fiberglass yarn,Fulltech Fiber Glass Corp.,owning factories in Douliu and Huwei in the same area that are undergoing output expansion.
The monthly capacity of Shanghai Grace Fabric's Shanghai plant totals about 12 million square meters,the biggest integrated E-fiberglass making plant in China and the fourth globally,says insiders.
With the new plant online,the firm's aggregate cross-strait E-glass fabric output will be in the top-three globally,to enable the firm to compete with the world's largest counterpart Nan Ya Plastics Corp.,a subsidiary of FPG.
