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Hyosung to set up spandex plant
20
Mar '10
A Memorandum of Understanding has signed by Hyosung to set up a 10,000 tons per annum spandex production plant in Santa Catarina region of Brazil at an investment of US $100 million. It is expected that the plant will be functional by coming year. It also envisages enhancing spandex production capacity to 20,000 tons per year, to attain leadership position in South America.

Yun-Eun Whang, President of Hyosung's Spandex Performance Unit, said that, as they foresee future growth potential of the countries in South America, especially Brazil, with regards to international textile trade, they are thus investing in Brazil.

Setting up the plant would satisfy the requirements of the local customers pertaining to product innovation, consistent service and delivery, he said and added that they expect that their high-tech, patented Creora production technology, would present an excellent innovation and cost competitiveness, thereby ensuring sustainable development for their consumers.

It is expected that as the facility gets fully functional, Hyosung would be the biggest manufacturer of spandex in South America, thereby bolstering their vision of establishing themselves as global leaders. Hyosung has formerly invested in countries like Turkey, Vietnam, and China.

Fibre2fashion News Desk - India

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