Yuen Foong Yu joins investment scheme with NT$1.9bnBy Chen Cheng-hui / Staff reporterYuen Foong Yu Consumer Products Co (永豐餘消費品實業) has pledged to invest NT$1.9 billion (US$60.96 million) in Taiwan to expand its capacity to manufacture toilet paper, inner layers for masks and cleaning products, the Ministry of Economic Affairs said on Friday. Yuen Foong Yu, a unit of YFY Inc (永豐餘控股), sells its products in Taiwan and China. The company is the largest household paper maker in Taiwan, owning the brands Mayflower, Delight and Tender. A man walks past tissue paper products at a supermarket in Taipei on Feb. 7. Yuen Foong Yu posted revenue of NT$7.39 billion in the first three quarters of this year, up from NT$7.25 billion a year earlier, while net profit fell to NT$552.48 million, from NT$832.04 million.

Source: Taipei Times November 20, 2022 23:26 UTC