Head office：： 13F, No. 101, Fu-Hsing N. Road, Taipei City
Telephone：02-27193333
Factory：No. 3, Industrial 3rd Road, Linyuan District, Kaohsiung City
Telephone： (07) 641-3101
Number of employees： 392
Manufacturing location：Kaohsiung & Yangzhou
Note： The OUCC production base for joint venture locates in Yangzhou, China.
Established in 1975, OUCC is the key player of the Far Eastern Group’s petrochemical energy business. The company was listed in TAIEX since 1987 (stock code 1710, of capital of NT$8.86 billion). The company owns two production sites located in Kaohsiung and Juangsu, China.
The OUCC has been producing ethylene oxide (EO) and ethylene glycol (EG) related products for more than four decades, with continuous deploy in the domains of surfactants and performance chemicals, daily chemicals, construction chemicals, and fine chemicals of specialty chemicals, and by way of the value-oriented business model to integrate sale, production, R&D to promote outstanding and differential products and services. Moreover, the company shall expand the sales domains in food and electronic grade gases to further product value, as well as special chemicals and materials of battery, electronic chemicals, and high-purity gases with one-stand solution and services.
The Sustainable Development Philosophy of OUCC
With sustainable strategies in Green, Carbon Reduction, and New Materials, OUCC builds a sustainable development organization, successively advances in the development of products and technology capability, systematically plans and implements various sustainable strategies and actions, and sets annual qualitative and quantitative performance evaluation indicators to ensure that the sustainable target is duly fulfilled.
- Drive transformation through R&D: Dedicated in the green products and technology of low-carbon CO2 chemicals, plastics recycling & reuse, and biodegradable materials to deal with global CO2 emission issues, in addition to the production of ethanolamine and ethyleneamine of excellent carbon capture solvents to assist customers with carbon capture in line with the global action.
- Implement circular economy and advance in green products: Develop the process of carbon capture and reuse by means of recycling CO2 from process prior to producing high-purity CO2 for industry, food and electronic manufacturers, and further process to produce ethylenecarbonate for manufactures of polycarbonate, synthesis materials, and lithium battery electrolyte.
- Target of sustainable environment: Continue product and technology development, and implement process management in circular economy, energy transformation and low carbon production to achieve sustainable goals of 35% carbon reduction and carbon neutral in 2035 and 2050 respectively.
- OUCC values the importance of industrial safety & health and human rights, obtains ISO 45001:2018 certificate to build a friendly and safe working environment.
- OUCC considers its personnel the most valuable assets, provides salary and welfare superior than the average associates and safety and health work place, by way of building a work place of ESG values and culture, equipping the personnel with the code of conduct to deal with stakeholders, supplying customers the best quality and services.
- OUCC adheres to the core spirit of the “Universal Declaration of Human Rights,” the “ILO Declaration,” and “The United Nations Global Compact” and “Responsible Business Alliance Code of Conduct.” We abide strictly by all labor-related laws and regulations. The company has also formulated internal labor-related rules and management mechanisms to achieve equality and create a friendly working environment.
- In addition to pursuing economic stability, OUCC continues to integrate and develop core competencies, actively seeks strategic collaboration with global companies, and introduces the most advanced chemical technologies with the aim of creating new profits.
- In view of corporate operative responsibility, the safeguard of shareholders’ lawful rights as well as other stockholders’ interests, OUCC implements the robust governance, improves business operation to maximize shareholders’ interests.
- For the continuous strengthening in corporate governance and management system, the corporate governance officer was installed, accountable for the work promotion.
- Adherence to the OUCC spirit of entrepreneurship – “sincerity, diligence, thrift, prudence, and innovation” to steadily cope with future challenges and achieve sustainability.
Operational Structure
Board
The Board of Directors is our highest organization, which consists of 11 Directors, including 3 Independent Directors. The Directors of OUCC all exercise their powers in accordance with the company law and the regulations. We have established the "Corporate Governance Principles," which is approved by the Board of Directors, and continue to strengthen all aspects and mechanisms of corporate governance and lay a solid foundation of OUCC's sustainable management.
In conformity with the modification of the Securities and Exchange Act, article 10 and article 23 of Corporate Governance Principles stating that when a Director, on behalf on himself or others, deals business of importance with the company, a negotiation and full discussion should be held by the Audit Committee to assign a representative of the company in advance, were revised and reported at the Board Meeting held at 10 August 2023.
Management of Conflicts of Interest
OUCC's Directors, Managers, and employees must operate in the firm’s best interests to prevent conflicts of interest and implement Board of Directors’ circumvention for conflicts of interest management according to regulations. Should any Directors, Managers, and other interested parties attending the Board of Directors meeting have a conflict of interest with the Board of Directors themselves or the legal person they represent, said persons shall be excused from the meeting and refrain from participating in the discussion and voting.
- According to OUCC’s "Code of Ethics,” the Company’s personnel must handle official duties objectively and efficiently. They shall not gain improper benefits for themselves, spouse, parents, children, or relatives within the second tier of kinship by means of their positions in the Company.
- When OUCC has a fund loan or guarantee, a large asset transaction, or a purchase (sale) relationship with individuals mentioned in the preceding paragraph, the relevant Company personnel must take the initiative to explain whether they have potential conflicts of interest with the firm and resolve the issues according to the Company’s code of conduct to prevent conflicts of interest.
The operation standards for financial business between the company and its related parties per below :
On 9 November 2023, the company's Board of Directors revised and passed the "Rules Governing the Financial and Business Matters between the Company and Its Stakeholders", stating that regulations should be formulated for transactions between the company and related parties in order to prevent irregular transactions and improper transfer of interests among related parties, such as purchase and sale transactions, acquisition and disposal of assets, endorsement and guarantees, capital loans, and the like.
Remuneration Management
Remuneration Link to ESG Indicators
OUCC has a Remuneration Committee tasked with assisting the Board of Directors in formulating remuneration-related policies, systems, and reviewing the performance assessment of Directors and Managers. The Committee is chaired by an Independent Director and held a total of two meetings in 2023, with 83% attendance rate of committee members.
The process for determining Director remuneration follows the "Board Performance Evaluation Rules for Oriental Union Chemical Corporation." It assesses operation performance, future business risks of the industry, management performance, and strategic goals of sustainable operation. It also considers individual performance achievement rates and contributions to the company's performance to provide reasonable compensation. The performance evaluation and reasonableness of remuneration are reviewed by the Committee and the Board of Directors. The remuneration system is periodically reviewed based on actual operating conditions and relevant laws and regulations to achieve a balance between sustainable operations and risk management.
ESG Promotion Committee
In order to effectively coordinate and manage various ESG affairs, OUCC established " ESG Promotion Committee." The President was regularly appointed as the Commissioner responsible for final decision making, action plan review, and approval of the final reports (e.g. ESG, TCFD, SASB.) The Secretariat under the Committee is accountable for the organization and promotion of the task execution of each department, and report twice annualy to the Board of such progression status.
- Committee structure: Department heads serve as steering committee members, and senior managers are responsible for the committee’s operations, formulating relevant ESG policies, action plans, and cross-departmental coordination.
- Supervision and management responsibility of the Board of Directors: The Board of Directors is the highest management unit for sustainable development. It regularly reviews the sustainable development implementation results and plans and assigns the "ESG Promotion Committee" to coordinate the review and management of sustainable action plans. The Commissioner (also a representative of the Board of Directors) regularly summarizes the implementation progress and reports to the Board of Directors.
- Meeting convention: If there are specific ESG issues in the current year, unscheduled meetings will be held to ensure that ESG issues are discussed and addressed as soon as possible, and the management process, evaluation results, and overall ESG information will be shared with the stakeholders via the ESG website and other communication channels. The goal is to maintain good interaction and negotiation relationships with multiple stakeholders.
In 2023, three meetings were held respectively in April, July and November for the promotion of the committee affairs listed below:
ESG Promotion Committee Organizational Structure
Stakeholders Contactors
- Mr. Chen/Ms. Chang
- E-mail： ESG@oucc.com.tw
SHE Contactors
- Mr. Yeh/Mr. Wu
- E-mail： she@oucc.com.tw