HS Hyosung Advanced Materials to Build USD 100 Million New Carpet Plant in Da Nang, Vietnam
TECHWORLD ·
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HS Hyosung Advanced Materials will build a new carpet plant in the Tam Thang Industrial Park in Da Nang, Vietnam.
The investment will total USD 100 million, or about KRW 130 billion, and is aimed at strengthening its push into the global carpet and yarn markets.
The company plans to complete plants for BCF yarn, automotive carpet and commercial carpet by 2029 and establish an Integrated Yarn-to-Carpet Manufacturing System.
HS Hyosung Advanced Materials will build a new carpet plant in the Tam Thang Industrial Park in Da Nang, Vietnam. The investment will total USD 100 million, or about KRW 130 billion, and the purpose is to strengthen its push into the global carpet and yarn markets. The company held a groundbreaking ceremony for the carpet production plant on the 29th at the Tam Thang Industrial Park in Da Nang.
The company already owns a 390,000-square-meter site, or about 118,000 pyeong, for its existing tire cord and airbag plant in its Quang Nam subsidiary, and will add an additional 110,000-square-meter site, or about 33,000 pyeong, that it has secured. As a result, the production infrastructure to be built will expand to a total of 500,000 square meters, or about 151,000 pyeong.
Based on this expansion, the company plans to complete plants for BCF yarn, automotive carpet and commercial carpet by 2029. Through this, it will establish an 'Integrated Yarn-to-Carpet Manufacturing System' through the new plant in Tam Thang.
HS Hyosung Advanced Materials said that establishing the integrated production system will significantly enhance its competitiveness in the global carpet market. It also plans to intensify its push into the global carpet and yarn markets.
Chief Executive Officer Lim Jin-dal of HS Hyosung Advanced Materials said that demand for eco-friendly interior materials is surging, especially in the global finished vehicle market centered on electric vehicles. He said eco-friendly interior materials include bio-based materials and recycled materials.
CEO Lim said the company will proactively respond to the needs of global customers by leveraging HS Hyosung Advanced Materials' unrivaled technology and the Integrated Yarn-to-Carpet Manufacturing System at the new Tam Thang plant. He added that the company will lead market trends based on the production system and its technological capabilities.
Source: TECHWORLD · Lee Kwang-jae
Original: https://www.epnc.co.kr/news/articleView.html?idxno=407563
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Source: TECHWORLD
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