Formosa Taffeta Invest $40m In Schoeller Textil To Develop New Textiles Including Sea Yarns And Smart Apparel
Image Courtesy of Schoeller Textil AG
October 2019 Schoeller Textil AG, Sevelen, Switzerland, and Formosa Taffeta Co., Ltd. from Taiwan, will broaden their cooperation.
After 18 successful years of close collaboration through the joint venture, Schoeller FTC (H.K.) Co. Ltd. the partnership is being expanded and Formosa Taffeta will become a 50% shareholder in Schoeller Textil via capital increase.
Formosa Taffeta, which has worked with Schoeller for 18 years, has plans to increase collaboration on technology licensing, comprehensive renovations and developing new textiles.
Collaboration is expected to help accelerate development of sea yarns and smart apparel
Both companies have a long history and strong position in the textile industry.
The Swiss based Schoeller Textil caters to high-end niche markets of innovative functional textile fabrics for sportswear and protective clothing.
The Taiwan based Formosa Taffeta is one of the world’s most prominent suppliers to global sports and fashion brands and is a leader in technical textiles.
In the future, the two companies will jointly develop targeted markets.
Franz Albers, Chairman Schoeller Textil, says: “Together with Formosa Taffeta, we will become more competitive and expand our presence in Asia.”
Wen Yuan Wong, Chairman Formosa Taffeta, says: “The partnership with Schoeller is a milestone to industrial transformation with strengthened R&D capabilities. Moreover, the cooperation will definitely widen market opportunities.”
About Schoeller Textil AG
Schoeller Textil AG, Sevelen, Switzerland, founded in 1868, is a leader in highly functional textiles and textile technologies for sportswear and protective clothing.
The sales organization has a strong international orientation with a focus on Europe, the USA and Asia.
The name Schoeller stands for innovation, state of the art manufacturing, and the strictest environmental standards. Its subsidiary, Eschler Textil GmbH, Balingen, Germany, specializes in warp-knits for sportswear and technical applications. .
About Formosa Taffeta Co., Ltd. (FTC)
Formosa Taffeta Co., Ltd. (FTC) was founded in 1973 in the outskirts of Touliu in Yunlin County, Taiwan. Its original name was Formosa Fiber Co., Ltd. – the renaming in Formosa Taffeta Co., Ltd. took place in 1979.
Since 1985, FTC is listed on the Taiwanese stock exchange.
Today FTC is a diversified industrial group with manufacturing sites in Taiwan, P.R. China and Vietnam.
The product line has a focus on fabrics for sports and outdoor as well as safety applications.
The company’s success is based on customer orientation as well as a strong focus on R&D.
