Formosa Chemicals Gets Record Environmental Fine in Taiwan

Formosa Chemicals & Fibre Corp. has been fined NT$1.24 billion ($41.2 million) for environmental breaches at one of its plants, the largest such penalty handed down in Taiwan.

The environmental bureau in Changhua County, central Taiwan, said the company’s textile-fiber plant had used a type of coal that doesn’t comply with its environmental impact assessment, according to a Formosa Chemicals statement Nov. 17 in Taipei.

Vice Chairman Hong Fu-yuan said by telephone that the company had not broken any rules and planned to appeal.

The company is a unit of Formosa Plastics Group, a Taiwanese conglomerate that’s faced penalties for ...