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Taiwan tycoon Wang Yung-ching dies

(Xinhua)
Updated: 2008-10-16 17:46

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

This undated photo shows the renowned Taiwan business tycoon Wang Yung-chiing who died in sleep in New York on Wednesday.  [Wikipedia.org]

Wang died on early Wednesday morning in New York during a business tour to the United States from Oct. 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.