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,…
Hyosung Advanced Materials is set to invest $100 million in the construction of a new carpet manufacturing plant in Vietnam. The company aims to expand its reach in global carpet and yarn markets. On Tuesday, a groundbreaking ceremony took place at the Tam Thang Industrial Park in Da Nang, Vietnam, marking the start of this new facility.
This expansion will see the addition of 110,000 square meters of land to the existing Quang Nam site, raising the total area to 500,000 square meters. Currently, the site is home to tire cord and airbag production facilities. The new plant is expected to be operational by 2029, with the production of bulk continuous filament (BCF) yarn and carpets for automobiles and commercial buildings.
This significant investment will boost the company's production capacity in Vietnam and enhance its competitiveness in the global mobility materials market. The new facility will feature an integrated yarn-to-carpet production system, encompassing the entire process from raw material imports, BCF yarn production, processing, tufting, backing, and laminating.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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