IMPORT/EXPORT
Hyosung Expands Creora Spandex Facility in Vietnam
In anticipation of the Trans-Pacific Partnership proposed trade agreement, spandex producer Hyosung will unveil a newly expanding facility in Nhon Trach, Dong Nai, Vietnam, beginning late summer.
The company, which produces spandex under the Creora brand, has seen its spandex capacity grow from 8,400 tons in 1999 to 250,000 tons this year.
Hyosung’s textile business is one of seven divisions of Hyosung Corp., a Seoul, South Korea–based multinational conglomerate with more than $8.7 billion in annual sales.
“We continue to invest in spandex as we believe market demand is going to continue to grow, and our state-of-the-art facilities will enable Creora to deliver the best quality, consistency and value to solidify our global leadership position,” said Yun-Eun Whang, president of Hyosung’s spandex performance unit. “We have numerous plants around the world, including South Korea, China, Turkey, and, most recently, we added one in Brazil to supply growth in South America.”
For more information, visit www.creora.com.
