Hyosung is investing $27 million to expand its spandex plant in Turkey in an effort to increase market share in the region.

The expansion of the Istanbul spandex factory will increase its annual production capacity by 5,000 tons to 25,000 tons once completed.

Hyosung said the project is expected to be completed within the first half of 2017. Combined with the South Korean company’s new spandex plant in Quzhou, China, which will add 16,000 tons to annual production in the first half of 2017, Hyosung’s global production of spandex will grow to a total of 221,000 tons.

The expansion of the Turkey spandex plant aims not only to provide stable supply to the consistently growing Turkish market but also to raise the market share of the company’s Creora brand in Europe and the Middle East.

Hyosung completed construction of the spandex plant in Çerkezköy of the Tekirdağ Province near Ankara in 2009 and has since been able to make market inroads in the region. Recently, the demand for spandex as a high value-added fiber has been rapidly growing in Europe and the Middle East and the existing production lines were considered not to be able to respond to this, leading to the decision to expand the facility.

“To defend the world number-one position, we need a preemptive response to the explosively growing demand for spandex as in the European and Middle East markets, and this facility expansion was determined for that purpose,” said Cho Hyun-joon, president of textiles. “While increasing spandex supply for customer satisfaction, we won’t be negligent at development of optimized goods for customer requirements.”

This facility expansion is expected to raise the market share of Creora to at least 31 percent, Hyosung said.