Formosa Plastics Group was formed in 1954 to reflect vertical integration of the PVC manufacturing process by the Formosa Plastics Corporation (FPC). Nan Ya Plastics Processing Corp. was formed to purchase PVC resins produced by FPC. A third member of the group, New Eastern Plastics Product, was formed to manufacture those processed resins into consumer goods. Nan Ya and New Eastern were later merged into a single entity, Nan Ya Plastics Corp., and upstream integration was achieved in the 1990s through the construction of an ethylene-producing naphtha cracking plant and a coal-burning power plant. In Taiwan, FPG has also diversified into many other fields, including textiles, electronics, medicine, skin care, automobile manufacturing, gasoline retail and petroleum refining.