USI Corporation (台灣聚合化學品股份有限公司) is a major Taiwanese petrochemical company that manufactures and sells polyethylene resins. The company was established in May 1965 and built Taiwan's first low-density polyethylene (LDPE) factory in Kaohsiung City.
Corporate History
USI Corporation was initially founded in May 1965 as a wholly-owned subsidiary of National Distillers and Chemicals Corporation (NDCC) of the United States. The company established Taiwan's first LDPE production facility at the Jenwu (Renwu) Petrochemical Industrial Park in Kaohsiung, marking Taiwan's entry into the polyethylene industry. The company signed an ethylene supply contract with CPC Corporation Taiwan, which prompted CPC to establish Taiwan's first naphtha cracker complex.
Following the oil crises of the 1970s, the American parent company decided to divest from Taiwan. The business was acquired by local investor Wu Shou-sung (吳壽松), who had previously operated a trading company representing USI's sales operations and had long-standing connections with the company. Over subsequent years, USI expanded its production facilities and product lines to include EVA (ethylene vinyl acetate), HDPE (high-density polyethylene), and LLDPE (linear low-density polyethylene).
In 1997, USI Corporation merged with Lien Cheng Petrochemical Corporation (聯成石油化學股份有限公司) to acquire controlling interest in the Hwa-Hsia Group, with USI holding 80% and Lien Cheng holding 20%. This merger established the foundation of today's USI Group within Taiwan's petrochemical and plastics industry.
Corporate Structure and Shareholders
As of 2026, USI Corporation has accumulated capitalization of NT$11.8 billion. The company is publicly listed on the Taiwan Stock Exchange under code 1304.
Major shareholders include Shing Lee Enterprise Limited (興利企業有限公司) holding 14.62%, Wholegainer Company Limited (好其利有限公司) through Fubon Securities custodian account holding 9.25%, and Asia Polymer Corporation (亞洲聚合股份有限公司) holding 8.53%. Other significant shareholders include Fubon Life Insurance (4.49%), various family members of the founding ownership group (Yu family members each holding 1.41%), and institutional investors. Insider ownership accounts for approximately 43.43% of shares, with institutional ownership at 7.99%.
USI Corporation is the parent company of the USI Group, which was formalized in 2001 through the establishment of USI Management Consultant Corporation (台聚管理顧問股份有限公司) to provide integrated management services to six petrochemical affiliate companies including USI, Asia Polymer, TCI, Hwa-Hsia, Tateh Chemical, and Hwa-Yun. These affiliated companies relocated to USI Building in Neihu Science Park in Taipei during the second quarter of 2001.
The company maintains ISO 14001 and ISO 50001 management system certifications and actively promotes energy conservation, disaster prevention, and pollution prevention initiatives. USI participates in the Taiwan Responsible Care Association (TRCA) and the Renwu-Dashe Safety and Health Promotion Association for regional cooperation on occupational safety and environmental protection.
Business Activities
USI Corporation's primary business is the development, manufacture, and sale of polyethylene plastic resins. The company produces four main product categories: LDPE (low-density polyethylene), EVA (ethylene vinyl acetate copolymer), HDPE (high-density polyethylene), and LLDPE (linear low-density polyethylene).
USI has pursued business diversification through investments in electronics, materials, finance, and venture capital sectors to strengthen its competitive position in international markets.
Chemical Manufacturing Activities
Additional PE/EVA Production: Additional PE/EVA production beyond USI Corporation's Renwu facility comes from Asia Polymer Corporation (APC), which was acquired by USI Corporation in 1997 and became a USI Group member. APC operates LDPE/EVA production using high-pressure autoclave reactors with technology from Gulf Chemicals and Cities Service Company of the United States, with a total design capacity of 100,000 tons per annum.
VCM Production: VCM (vinyl chloride monomer) is produced by Taiwan VCM Corporation (TVCM), a USI Group affiliate that is 87.27% owned by China General Plastics Corp (CGPC), another group member. TVCM is the second-largest VCM manufacturer in Taiwan and supplies VCM primarily to CGPC, CGPC Polymer Corporation, and other PVC producers.
PVC Production: PVC is manufactured by China General Plastics Corporation (CGPC) and its wholly-owned subsidiary CGPC Polymer Corporation, both members of the USI Group. CGPC expanded its Cianjhen plant and Zhongshan plant in mainland China, with production capacities of 66,000 tons and 180,000 tons respectively.
ABS/PS Production: ABS and PS (polystyrene) products are manufactured by Taita Chemical Company (TTC), another USI Group affiliate. Taita Chemical reported consolidated ABS/PS revenues of NT$14.679 billion in 2023. Taita also has a wholly-owned subsidiary, Taita Zhongsan, in mainland China with capacity to produce 100,000 MT of PS and 60,000 MT each of ABS and EPS.
