FAR EASTERN POLYTEX (VIET NAM) LIMITED

The subject - Far Eastern Polytex (Viet Nam) Limited engages in manufacturing and processing yarns, PET plastic beads and fabric products. As investigated, it is a new vertically integrated polyester and textile production base of the Far Eastern Group. Big brands such as Coca-Cola, Pepsi, Nike, Adidas, Decathlon… are all important customers and strategic partners of this company.

The subject’s ultimate parent company - Far Eastern New Century is a Taiwanese conglomerate with the main activity of the production and finishing of synthetic fibers and other textiles. Far Eastern Group’s segments include petrochemical business, chemical fiber business, textile business, telecommunication service business, real estate business, investment, and other businesses. This group has production sites around the world, building up regional supply chains across Asia and America, including USA, China, Taiwan, Japan, and Southeast Asia.

By May 2021, this Group expanded its investment for the second time, bringing the total current investment capital up to USD 1.37 billion, with synthetic fiber products and recycled products. According to media information, in the third quarter of 2023, the subject continued to invest more than USD 250 million to expand the factory in Binh Duong Province. Besides, the company will build a solar power plant to provide electricity for production. The aim is to head toward green production and sustainable development.

In the latest interview, as confirmed, the subject is operating with stable orders. The workforce was raised to over 2,500 employees to meet the expansion of production facilities in 2023 and has been maintained until now.