Global fiber giant Hyosung Corp. has invested $37.7 million to expand its Creora elastane plant in Brazil.
The project at the company’s industrial park in Araquari increased production capacity by 80 percent to 22,000 tons per year from 12,000 tons.
“The investment was made to meet the growing demand for elastane, as well as to guarantee the supply of the textile industry in Brazil and the Latin American market,” company president Do Jun Cho said.
In addition to the plant in Brazil, Hyosung has factories in South Korea, China, Turkey, Vietnam and India. In 2021, the company ended the year with a world production of 390,000 tons. With the expansion in Brazil, this should reach 400,000, Hyosung noted.
“Brazil has become a special country for Hyosung,” Jessé Moura, the company’s marketing manager, said. “It is a great achievement to get another investment for our country, creating more jobs and delivering more reliability to our customers. With this new investment, we will be able to increase our market share in Brazil, as well as in other countries around us.”
One of the highlights in the brand’s manufacturing is concern for the environment. Hyosung recovers 95 percent of the solvent used in Creora production using the distillation process. Through a wastewater treatment plant, all the water used in the plant returns to nature without changing its characteristics. In addition, the company is Oeko-Tex certified, ensuring safety in the use of its products.
The brand is part of Texbrasil (Internationalization Program of the Brazilian Textile and Fashion Industry), a partnership between Abit (Brazilian Textile and Apparel Industry Association) and ApexBrasil (Brazilian Trade and Investment Promotion Agency).
Texbrasil works with Brazilian companies in the textile and apparel industry to develop global marketing strategies. In the last 20 years, it has helped around 1,600 brands to enter the export market, resulting in $9 billion in business.