Formosa Plastics Group's co-founder, Yung-Tsai Wang died at his home in Taiwan on Nov. 27.
Wang, born in 1921 in Taipei's Xindian district, formed the company 60 years ago with his older brother, former company Chairman Yung-Ching Wang. Y.C. died in 2008.
Known as the “6th Naphtha Cracker Grand Architect,” Y.T. was behind the project to reclaim land in Mailiao, Taiwan, now a world-renowned industrial park.
The company includes Formosa Chemicals & Fibre Corp., Formosa Petrochemical Corp., and more than 20 other investments in Taiwan, China, and Indonesia, and in the United States.
Formosa Plastics Corp. U.S.A. a producer of plastic resins and chemicals, and its subsidiary film and sheet producer Nan Ya Plastics Corp. USA, are both headquartered in Livingston, N.J.