Taiwan company buying closed West Virginia polymer producer
APPLE GROVE, W.Va. (AP) — A company based in Taiwan says it is buying a former polymer producer in West Virginia.
Taipei-based Far Eastern New Century Corporation says in a news release that it has successfully bid about 1 billion New Taiwan dollars ($34 million) for the plant formerly owned by M&G Polymers USA LLC in Apple Grove. The transaction also includes a research center in Ohio. The statement did not specify the Ohio town.
M&G notified the Mason County Commission of the plant’s closing in September after the company filed for bankruptcy protection.
The statement says pending bankruptcy court approval, it will be FENC’s first polymer resin production site in the United States.
FENC also has production sites in Taiwan and China. A plant in Vietnam is scheduled to start production in June.