• Investing in facilities in India and Turkey to meet global diaper spandex demand and secure a stable supply chain
• Plan to increase diaper spandex production by approximately 11,000 tons by 2025
• Focus on reducing logistics costs and tariffs, and increasing supply speed to secure major customers
• CEO Chi-Hyung Kim states, "Expanding the supply chain will enhance our dominance in the global market."
Hyosung TNC's world-leading spandex fiber, CREORA, is taking proactive steps to capture the market for diaper spandex.
Expanding facilities for diaper spandex production in India and Turkey
Hyosung TNC announced plans to expand facilities for diaper spandex production in India and Turkey by February 2025, including polymerization processes at both spandex factories. This initiative aims to establish a global production system for diaper spandex.
This investment is in response to the increasing demand for diaper spandex in global markets such as Europe, the Middle East, and Africa, in addition to the domestic market in India. It seeks to enhance supply stability in response to this growing demand.
Through facility expansion, Hyosung TNC plans to increase the spandex production capacity of diaper spandex to 11,000 tons by 2025 in its production facilities in India and Turkey.
Global Market Strategy through Expansion of Production Supply Network in India and Turkey
Hyosung TNC has expanded its production region for diaper spandex, which was previously produced only in factories located in Gumi, South Korea, and Zhuhai and Jaxing, China, to include facilities in India and Turkey. This expansion comes in response to increased demand from global customers for stable supply networks in local or nearby regions, amid the uncertainties caused by the global pandemic and events like the Russia-Ukraine conflict.
With this expanded facility investment, Hyosung TNC anticipates being able to respond rapidly to market needs by increasing production and supply speed according to market demands. Additionally, the company aims to enhance market dominance through cost savings on logistics, tariffs, and other ancillary expenses.
Chi-Hyung Kim, CEO of Hyosung TNC, states, "CREORA has maintained an unrivaled global No. 1 position based on its global production network in South Korea, China, India, Vietnam, Turkey, Brazil, and other countries." He added, "In the rapidly growing market for diaper spandex, we will enhance market dominance through stable supply chains and optimized quality."
Chi-Hyung Kim, CEO of Hyosung TNC, states, "CREORA has maintained an unrivaled global No. 1 position based on its global production network in South Korea, China, India, Vietnam, Turkey, Brazil, and other countries." He added, "In the rapidly growing market for diaper spandex, we will enhance market dominance through stable supply chains and optimized quality."
