PINGTUNG (TVBS News) — Launch Technologies Co, a golf ball manufacturer, announced on Monday (Nov. 6) losses amounting to NT＄1.329 billion from a catastrophic factory explosion in late September.
The losses included NT＄273 million worth of inventory losses, NT＄599 million property and equipment damages, NT＄2.71 million loss of other assets, and NT＄455 million as a liability reserve, the company said.
The board of the company also approved the third-quarter financial report, which showed total revenues of NT＄2.776 billion during the first three quarters. The company has suspended operations due to the incident, which is expected to further escalate the damage to the company's operations.
On Sept. 22, the golf ball maker's factory in Pingtung County suffered a major fire accident, leaving 10 dead and over 100 injured.