HS Hyosung Advanced Materials to invest $100 mil. in Vietnam carpet plant
HS Hyosung Advanced Materials will invest $100 million to build a new carpet manufacturing plant in Vietnam, seeking to expand its presence in the global carpet and yarn markets. The company held a groundbreaking ceremony Tuesday at the Tam Thang Industrial Park in Da Nang, Vietnam, for the new facility. The company plans to add 110,000 square meters of land to its existing Quang Nam site,…
HS Hyosung Advanced Materials plans to invest $100 million in constructing a new carpet manufacturing plant in Vietnam, aiming to bolster its position in the international carpet and yarn markets. On Tuesday, the company held a groundbreaking ceremony at the Tam Thang Industrial Park in Da Nang, Vietnam, marking the inception of the new facility.
The project involves expanding the existing Quang Nam site by 110,000 square meters, raising the total land area to 500,000 square meters. The current site already houses tire cord and airbag production facilities.
The new plant is set to be operational by 2029, with its main focus on producing bulk continuous filament (BCF) yarn and carpets for automotive and commercial applications. This expansion is expected to significantly boost HS Hyosung Advanced Materials' production capacity in Vietnam, thereby enhancing its competitiveness in the global mobility materials market.
The company emphasized that the new facility will feature an integrated yarn-to-carpet production system, covering the entire process from raw material imports to BCF yarn production, processing, tufting, backing, and laminating.
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