Schoeller Switzerland and Formosa Taffeta create joint venture

LYCRY Icon Hong Kong .....November 2001: Formosa Taffeta Co. Ltd. (FTC), one of the worldˇ¦s largest textile manufacturers and Schoeller Textil AG, one of the most innovative textile technology companies, have announced the creation of Schoeller FTC (HK) Ltd. in Hong Kong. Both companies have a 50 percent share in Schoeller FTC (HK) Ltd.

The focus of the new alliance will be the manufacturing and marketing of highly functional textiles for the Asian Sport, Sportswear and Casual sectors.

"In Schoeller, we have found a strong partner, deeply rooted in tradition, which is famous in equal measures for its visionary innovational strength and its high quality," claims the FTC President, Mr Shih Ming Hsie. "Combined with our ideal production and distribution structures, this will result in markedly competitive, high quality products on the Asian market."

The functional and high quality textiles resulting from this joint venture will be produced directly in Asia and marketed under the "Schoeller" brand. "The Asian home market hides huge future potential for high-tech textiles. For this reason, we are greatly looking forward to cooperation with such an impressive and reliable producer," says Hans-Jurgen Hubner, Schoeller CEO. "Through this strategic partnership with FTC, Schoeller can not only rely on an optimal production environment, but also on the necessary geographical proximity to the Asian market."

Formosa Taffeta Co. Ltd. (FTC), founded in 1973, has its headquarters, including production plants with a state-of-the-art spinning, weaving, dyeing, printing and finishing machine park, in Touliu City, in the centre of Taiwan. There are also subsidiaries in Taipei, Hong Kong, Canton, Xiamen, Vietnam, New York and Italy. The globally integrated textile company targets the areas of Sport, Casualwear, Industrial Safety, Ladyˇ¦s Fashion, Home Textiles and Rainwear, with products from the high value-added segment. A further important segment is umbrella covers. FTC employs around 4600 people. The net turnover in the 2000 financial year amounted to USD 493 million (around EUR 554 million).

Schoeller Textil AG, founded in 1868, is an innovative high-tech textile company with special products for Sport, Leisure, Fashion, Industrial Safety and Industrial Design. Located at the headquarters in Sevelen (Switzerland) are the areas of Research, Development, Weaving, Dyeing, Finishing, Sales and Administration. Added to this are fixed sales subsidiaries in Seattle (USA) and Hong Kong, as well as representative offices in France, Germany, Italy, the UK, New York, California, Canada, Korea and Australia. The internationally multi-award winning company had a turnover of SWF 51 million in the 2000/01 financial year (around EUR 35 million) and employs 170 people.

. Together into the future

The new Schoeller FTC (HK) Ltd. produces and markets highly functional textiles for the Asian area. In the picture: Shih Ming Hsie (President-FTC) and Hans-Jurgen Hubner (Chief Executive Officer Schoeller). Standing from left to right: Jeffrey Lin, (CEO Schoeller FTC HK Ltd.), Young-Chin Chen (Director R&D-Center FTC), Christine Jenny (Chief Relations Manager Schoeller), Ken Huang (Senior Vice President Production FTC), James M.C. Lee (Senior Vice President Sales FTC) and Solomon Chang (Deputy Director President Office FTC)

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