Production Base for Europe

Hyosung has been expanding its spandex plant in Turkey in order to cope with rising demand in the nation and increase its market share of creora®, the company’s spandex brand.
Hyosung has been expanding its spandex plant in Turkey in order to cope with rising demand in the nation and increase its market share of creora®, the company’s spandex brand.

 

According to industry sources on October 4, Hyosung Corp., a leading South Korean synthetic fiber manufacturer, started a project in September to beef up the production capacity at its spandex plant in Istanbul, Turkey, by 5,000 tons with the investment of US$27 million (29.97 billion won).

After the company completes the expansion project in Turkey by the first half of next year, its annual spandex production capacity would reach 25,000 tons. By then, it would also be ready to open a new spandex factory in Quzhou, China, with annual capacity of 16,000 tons. The company’s combined global spandex output capacity would be ramped up to 221,000 tons next year.

Hyosung has been expanding its spandex plant in Turkey in order to cope with rising demand in the nation and increase its market share of creora®, the company’s spandex brand, in Europe and the Middle East.

In 2009, Hyosung built a spandex factory in Cerkezkoy, Tekirdag Province, about 100 kilometers away from Istanbul. Based on it, the company has been targeting the premium markets in Europe and Middle East at the same time.

With the latest project, Hyosung expects its market share of creora® to grow to over 31 percent after the capacity increase. It means that one in three pieces of stretchy clothing that 7.4 billion people around the globe wear is made with creora®.

The textile company developed spandex with its own technology for the first time as a Korean company in 1992 and, since then, it has targeted the global market with creora®. Hyosung has topped the global market share in spandex for the last six years.

The company has established its global production system in countries all over the world, including China, Turkey, Vietnam and Brazil as well as Korea, and it is exporting locally produced products.

In addition, Hyosung has launched sub brands by use, such as creora® Fresh spandex for deodorization function, creora® Color+ and creora® Eco-soft, receiving positive response in the market.

 

 

 

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