Formosa Plastics Corp. announced a $5 million donation by New Mighty Foundation, a charitable organization funded by one of its major shareholders, to food banks in Victoria and in Louisiana and New Jersey, according to a Formosa news release.
The donation is part of the company’s commitment to sustainable development and the United Nations’ goal to achieve “Zero Hunger.”
Formosa has manufacturing operations in Point Comfort and in Baton Rouge, La. New Jersey is home to its corporate office.
“Millions of Americans deal with chronic hunger every day and the COVID-19 pandemic has made that situation even more critical, particularly in disadvantaged communities,” said Executive Vice President Ken Mounger. “Formosa is committed to engaging with our local partners to fight hunger through financial contributions, food drives and employee volunteer efforts.”
The $5 million donation by the foundation will be split between the Food Bank of the Golden Crescent, which covers the counties surrounding Formosa’s Texas facility, the Greater Baton Rouge Food Bank and the Community Food Bank of New Jersey.
According to the Feeding America website, 72 billion pounds of food are wasted in America each year. Through bargaining power and successful partnerships, food banks are able to secure food before it is wasted – making a difference for the people served while simultaneously reducing waste in the environment.
Every dollar donated helps secure and distribute the equivalent of three meals. Formosa Plastics is a vertically integrated producer of plastic resins and chemicals. The company is headquartered in Livingston, NJ, has over 2,900 employees.