Hyosung Corp.,South Korean textile and industrial materials maker plans to expand production of spandex yarns at its China facility in Guangdong Province by 14.3 percent to 80,000 tons per year, according to company officials.
With the expansion, the firm's total production of the elastic synthetic fiber will reach 190,000 tons and will help Hyosung and its spandex brand Creora snap up more than 30 percent of the global market share.
Spandex is a highly elastic textile used in various types of garments such as leggings, sports apparels and belts.
Cho Hyeon-jun, head of the textile performance unit at Hyosung said that the production hike was decided as a means to meet the explosive rise in demand for spandex in China and other Asian markets
The company will also push to build up production capacity at its factories in Vietnam as well as in Brazil and Turkey down the road.
The expansion plan will help the company to reiterate its position as the world's No. 1 spandex maker.
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