Hyosung Opens Plant In Brazil
Hyosung Corp., South Korea, will invest more than $100 million to open a plant in Brazil's Santa
Catarina region that will produce 10,000 metric tons of creora® spandex per year.
"We are investing in Brazil because we recognize the growth potential of the South American continent and in particular Brazil's importance in the future of the global textile business," said Yun-Eun Whang, president, Spandex Performance Unit.
Whang said upon startup of the facility, scheduled for 2011, Hyosung is expected to be the largest spandex producer in South America. The company also plans further investment to double capacity to 20,000 metric tons.