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Taiwan tycoon Wang Yung-ching dies

(Xinhua)
Updated: 2008-10-16 16:21

Wang Yung-ching

Wang Yung-ching, founder of Taiwan's Formosa Plastics Group, died in sleep on Wednesday at the age of 91, the group announced in Taipei on Thursday.

Wang died in New York early Wednesday morning during a business tour to the United States from October 11, the group said in a statement.

Wang set up the Formosa Plastics Corporation in 1954, which is now a major conglomerate in Taiwan. Its business covers biotechnology, petrochemical processing and electronic components production.