Related Keywords: Hyosung Corp to invest US$ 27 million, increase spandex capacity, South Korea, Turkey
Hyosung Corporation, a leading textile company in South Korea plans to invest US$27 million to expand spandex capacity by 5000 tons in Istanbul, Turkey amid increasing demand from European and Middle Eastern markets.
The company is planning to complete the expansion by H1 2017 and the capacity will be 25000 tons per year. By then, it would also be ready to open a new factory in Quzhou, China, with annual capacity of 16,000 tons. The company’s total global spandex output capacity would be ramped up to 221,000 tons next year.
