In an effort to become the number-one worldwide spandex producer, South Korea-based Hyosung Corp.
will invest $100 million in the construction of a spandex facility in Nhon Trach, Ho Chi Minh City,
Vietnam. Scheduled to be operational by the second half of 2008, the plant will produce 15,000 tons
of spandex annually.
“We will be able to better meet the needs of customers for innovation and cost
competitiveness with a new state-of-the-art facility using our patented creora® technology,” said
Greg Vas Nunes, president, Europe and the Americas, spandex performance unit. “As Southeast Asia is
growing as a sourcing area for the United States with increasing demand for shorter lead times, we
believe it is essential to install production closer to our customers.”
Hyosung has almost doubled its spandex production capacity since the beginning of 2006,
adding 43,000 tons at facilities in China, Turkey and Vietnam, alongside additional investment in
Korea. The company expects to produce 92,000 tons a year by 2008.