Formosa Plastics Founder Dies

Wang Yung-Ching, founder of the Formosa Plastics Group, died last week while on a business trip in New York, the company says. Wang, 91, was a farmer’s son with only an elementary school education. He started his career in the early 1930s when he and his two brothers set up a rice store in Taiwan. In 1954 he established Formosa Plastics Corp. with a loan from a U.S. aid program, and the company grew to become Taiwan’s largest and most profitable industrial conglomerate, Formosa...

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