Taiwan business pioneer dies at 91

TAIPEI: Wang Yung-ching, a businessman who built his Formosa Plastics Group into Taiwan's biggest and most profitable manufacturing conglomerate, has died in the United States, the group announced here yesterday. He was 91.

The second richest man in Taiwan with a personal fortune of $6.8 billion set up Formosa Plastics Corp in 1954.

The conglomerate covers biotechnology, petrochemical processing and electronic components production and comprises more than 40 companies employing nearly 100,000 people.