HYOSUNG, currently the second largest spandex producer in the world, will invest 100 million dollars (US) in a new cost-competitive spandex facility in Vietnam.
This plant will manufacture 15,000 tons of spandex per year and is aiming to be operational by the second half of 2008.
“We are investing in Vietnam as the next step in Hyosung's global growth strategy and to serve the Southeast Asian market."
"The new factory will be located in Nhontrach, Hochimin, to ensure fast and reliable service in the region.” said President CH Lee of the spandex performance unit of Hyosung.
“We will be able to better meet the needs of customers for innovation and cost competitiveness with this state-of-the-art facility using our patented creora technology."
"As South East Asia is growing as a textile and garment production area with increasing demand for shorter lead times, we believe it is essential to install production closer to our customers to better service their needs.” says President Lee
Since 2006, HYOSUNG has added 43,000 tons in new spandex capacity in Turkey and China plus additional investment in Korea.
This has almost doubled the Hyosung capacity bringing the company to a total of 92,000 tons per year by 2008 and Hyosung closer to its goal of becoming the spandex global leader.
marketing@alchempro.com
