Hyosung confirms Indian spandex investment
27/02/2018
Hyosung chairman Cho Hyun-joon met with Indian Prime Minister Narendra Modi last week in Mumbai.
“India is the world’s largest textile market and I am expecting that the size of its consumer market will grow remarkably,” Mr Cho was reported as saying during the meeting. “I anticipate that Hyosung and the Indian economy will flourish together.”
The facility will be Hyosung’s first spandex plant in India. It is expected to be operational by 2019. It will be located in the Aurangabad Industrial City (AURIC) in Maharashtra.
It will allow the company to make inroads into the Indian market; it is targeting a 70% share of the country’s spandex market.
Hyosung markets its spandex under the Creora brand.
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