SOUTH KOREA: Hyosung Could Launch US Spandex Production

Korea's Hyosung is ready establishing a spandex plant in the United States, according to various reports. The chemical fiber maker also intends developing US sales from new overseas headquarters, based at the same location.

Hyosung selected Rock Hill, South Carolina, which is placed at the heart of the US textile belt, not far from Charlotte-Douglas international airport.

According to the Herald, a Rock Hill-based newspaper, Hyosung leased a 67,200 square-foot building in a local Business Park. The group intends producing various kinds of fibers, including spandex for US textile and apparel industries.

Until now, US chemical group DuPont had an overwhelming share in US spandex market under its Lycra brand. Asian producers recently developed sales on the lower end of the market, also called generic spandex.

A first team of Hyosung employees will begin working in Rock Hill from March. According to the Herald, Hyosung also intends establishing its overseas headquarters at the same place.

A Hyosung official denied the report, confirming plans to establish US fiber

facilities, nevertheless.

The group was recently in talks to acquire spandex business of Bayer. The German group recently announced that negotiations definitively failed. Bayer is still looking for buyers, however, considering that spandex and other fiber operations are no more part of its core business.

Hyosung never ceased raising its spandex capacities in the past ten years. Thanks to a recent investment in China, the group's annual production is expected reaching 35,500 tons per year or nearly 20% of an estimated world capacity of 180,000 tons.

While Asian spandex suppliers are attacking the US market, DuPont decided further developing sales in Asia, at the same time.

The Wilmington-based group also invested in production of generic spandex.

February 7, 2002

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Added: February 7, 2002
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