Hyosung to open new spandex plant in Brazil
South Korea-based fibre producer Hyosung is to invest more than $100 million in a new spandex production facility in Santa Catarina, Brazil. The site will have a manufacturing capacity of 10,000 tonnes per year and is expected to be in operation by 2011.
Capacity is likely to increase to 20,000 tonnes per year in the future.
“We are investing in Brazil because we recognise the growth potential of the South American continent and in particular Brazil’s importance in the future of the global textile business,” said President Whang of Hyosung’s spandex performance unit. “This plant will better serve the needs of regional customers for product innovation, reliable service and delivery. We believe that our state-of-the art, patented creora manufacturing technology will offer the best combination of innovation with cost competitiveness for our customers to continue to grow and thrive.”
He added: “With the full start-up of this facility, Hyosung is expected to be the largest producer in South America and reinforce our vision of being the global leader in spandex.
The company has similar facilities in Turkey, Vietnam and China.
