US-based Invista, one of the world's leading integrated fibers and polymers suppliers, yesterday announced it would increase capital inputs to $99.6 million to expand its spandex production base in the Pearl River city of Foshan.
The announcement comes just one year after the official launch of its $128 million facility in the city.
The investment would increase the annual production capacity of the company's Foshan base from 12,000 tons to 24,500 tons of spandex fibers.
"Invista has similar production facilities in Jiangsu Province and in Shanghai in East China," Invista Executive Vice-President David Duncan said. "The main reason for the investment expansion in the Foshan facility is the explosively growing market demand for spandex."
Guangdong is one of the fastest growing and most important markets for spandex in China, accounting for about one-third of the domestic market.
"The project expansion, together with the production facilities in American, European and other Asian countries, will enable Invista to realize ahead of schedule the previously set target of an annual spandex production capacity of 50,000 tons in three years," Duncan said.
He added that his firm is considering setting up a new spandex production base as well as a research and development (R&D) facility in China to support the development and commercialization of new fiber, fabric and garment innovations. He refused to disclose further details, except to say that the R&D center's technology would exceed that of any other such facility it has built.
(China Daily November 16, 2007)