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Hyosung Invests $100 Mill. In Brazil

(Filed Under Fashion News). Hyosung, a South Korea-based manufacturer of creora branded spandex, has signed a memorandum of understanding to invest over $100 million in a spandex production facility in the Santa Catarina region of Brazil. The company expects the plant to be operational by next year, and to manufacture 10,000 tons per year. Hyosung plans to eventually produce 20,000 tons per year in the region with the goal of becoming the leader in South America.

“We are investing in Brazil because we recognize the growth potential of the South American continent and in particular Brazil’s importance in the future of the global textile business,” said president Whang of Hyosung’s Spandex Performance unit. “This plant will better serve the needs of regional customers for product innovation, reliable service and delivery.

We believe that our state-of-the-art, patented creora manufacturing technology will offer the best combination of innovation with cost competitiveness for our customers to continue to grow and thrive. With the full startup of this facility, Hyosung is expected to be the largest producer in South America and reinforce our vision of being the global leader in spandex. In addition, this investment, along with previous ones in Turkey, Vietnam and China, demonstrates Hyosung’s commitment to the textile industry.”

Hyosung Corporation is one of Korea’s leading multinational conglomerates with annual worldwide sales of more than $8.7 billion. Hyosung operates in seven performance groups including textiles for categories including intimate apparel, swimwear, hosiery and sports/activewear. For further information, e-mail

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Published 03-17-2010 by Amanda Torres Price

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Hyosung Invests $100 Mill. In Brazil

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