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25th June 2013, London

Creora elastane for growing Asian markets

Creora brand spandex facility in Cerkezkoy near Istanbul, Turkey. © creoraThe leading elastane manufacturer Hyosung plans to expand its production facility of creora brand spandex in Vietnam, targeting the growing demand of the Asian markets.

This follows the company’s expansion of its Turkish plant in Cerkezkoy, near Istanbul, completed last year as a part of its plans of placing production as close to the customers as possible.

Undergoing two expansion phases that will take place this August and November, the production facility of creora brand spandex in Nhon Trach, Dong Nai, Vietnam, will be designated for the Asian customers, while the factory in Turkey is targeting the European markets.

Growth strategy

“We continue to invest in elastane fibre as we believe market demand is going to continue to grow and our state of the art facilities will enable creora to be of the best quality, consistency, and value and will continue to solidify our global leadership position,” said President Whang of Hyosung's Spandex Performance Unit.

“Our expansion in Turkey, completed in 2012, also supports our growth strategy and meets the needs of many European brands and retailers who require production proximity to meet changes in market demand.  We are best placed to ensure fast delivery to European and North African customers.”

Creora brand spandex facility in Vietnam in Nhon Trach, Dong Nai. © creora

Hyosung has creora spandex plants in South Korea, China (3 plants), Brazil, officially opened in 2011 and targeted at the growing South American markets, Vietnam and Turkey.

Hyosung

Hyosung Corporation is one of Korea’s leading multinational conglomerates, with annual worldwide sales of more than $5.5 billion. It maintains a global network of more than 73 subsidiaries and international branch offices around the globe.

The company operates in seven performance groups – textiles, industrial materials, chemicals, power & industrial systems, construction, trading and information & communication.

www.creora.com

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