SEOUL, South Korea — March 23, 2018 — HYOSUNG, currently the largest spandex producer in the world, has announced plans to invest $100 million dollars in a new cost-competitive creora® spandex facility in India. This plant will be near Aurangabad in the western state of Maharashtra and is expected to be commercial by 2019.
“We are investing in India to meet the needs for comfort by the growing consumer market in India as well as to better serve the textiles industry in India, Pakistan, and Bangladesh,” said Chairman Cho Hyun-joon. “Our state of the art facility will enable creora spandex to deliver the best quality, consistency, and value to meet customer’s needs. We continue to invest in all dimensions of our creora spandex business with new global marketing team members, new products, a new development center, customized development workshops and new capacity”
Since 2015, HYOSUNG has added 93,000 tons in new creora spandex capacity with a new plant in Quzhou, China, plus additional investment in Turkey and Vietnam. By 2020, the total capacity is expected to be 390,000 tons.
Posted March 23, 2018
Source: HYOSUNG Corp.