Expansion of annual production capacity by 11,000 tons by 2026
Hyosung TNC's spandex fiber, Creora, is making a proactive investment to target the spandex market for diapers.
Hyosung TNC announced on the 14th that it will expand facilities such as polymerization processes at its spandex factories in India and T?rkiye by February next year to establish a global local production system for diaper spandex.
Currently securing an annual production capacity of 73,000 tons, the India and T?rkiye production plants will be expanded to produce a total of 11,000 tons of diaper spandex by 2026. Diaper spandex, which had only been produced at some plants in Gumi, Gyeongbuk, Zhuhai, and Jiaxing in China, will now also be produced in India and T?rkiye.
This is due to the increased demand from global customers for stable supply chains locally or in nearby regions, following instability caused by the global pandemic and the Russia-Ukraine war. The plan is to enhance supply stability in preparation for the rapidly growing demand for diaper spandex in global markets including the Indian domestic market, Europe, the Middle East, and Africa.
With this facility investment, Hyosung TNC expects to respond quickly by increasing production and supply speed according to market needs. Additionally, it aims to expand market dominance through cost reductions in logistics, tariffs, and other additional expenses.
Kim Chi-hyung, CEO of Hyosung TNC, said, "We will lead the global market in the rapidly growing diaper spandex sector with a stable supply chain and optimized quality."
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