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Hyosung to build new spandex factory in Turkey

16
Apr '07
Hyosung will establish new facility near Istanbul in Turkey in order to accelerate the expansion of high end Spandex market in Europe.

Hyosung, announced that HYOSUNG will invest $130,000,000 to establish the Turkey facility and its capacity is 15,000ton per year. And HYOSUNG plans to invest $50,000,000 capital in order to establish a limited liability company in Turkey with the name of HYOSUNG ISTANBUL TEKSTIL LTD.

The new facility will be located in Cerkezkoy, near Istanbul, and its capacity is 5,000ton per year, with the aim to start in November of this year for the first completion

HYOSUMG is planning to produce high value added spandex for swimwear, lingerie, and hosiery etc . to increase in European Market.

Also, HYOSUNG will invest $35,000,000 to establish more Guangdong plant in Zhuhai, China, with aim to complete by September of this year, and its capacity is 5,000 ton per year. HYOSUNG will have 39,000tons capacity in China with this new expansion.

According to HYOSUNG spokesmen, ?This new investment in Turkey and in China will allow better service to the needs of customers globally, and will contribute to the overall global growth of HYOSUNG to the company?.

HYOSUNG will have a total production capacity of 87,000 ton per year.

HYOSUNG has taken over of TONGKOOK Spandex in Zhuhai,China (January of this year) and will have new 20,000 tons capacity due to these new investments.

HYOSUNG?s aim to become the leading company in Spandex Market is accelerating with the successful take over of Tongkook Spandex and the investment in Turkey.

As global leading company, HYOSUNG will continue to establish the facilities in the South America for each continent to allow better supply and outspread aggressive market strategy to capture the global market.

Hyosung Corp


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