South Korea-based Hyosung Corp., manufacturer of creora® spandex, has commissioned a new production
plant in Nhon Trach, Vietnam, as part of its strategy to expand its presence in Indian and other
Southeast Asian textile markets.
“We have invested $100 million to manufacture 15,000 tons of creora annually in the Vietnam
facility, as the next step in Hyosung’s global growth strategy and to better serve the Southeast
Asian markets,” said CH Lee, president, Hyosung. “This state-of-the-art facility is globally
competitive to ensure fast and reliable service in the region.”
The company also has opened a liaison office in New Delhi, India, to enhance customer service
in India. According to Hyosung, the spandex market in India, currently valued at some $60 million,
is growing by 5 to 10 percent annually.
June 24, 2008