- Investing KRW 1 trillion in
Vietnam to establish a bio
butanediol plant with an annual production capacity of 200,000
tons.
- Building the world's first integrated production system for
bio spandex, from raw materials to finished fibers.
SEOUL,
South Korea, July 31,
2024 /PRNewswire/ -- Cho
Hyun-joon, Chairman of Hyosung, has identified "Bio BDO" as
the future growth driver for the company.
Butanediol (BDO) is a chemical used to manufacture PTMG, which
is used in the production of spandex. BDO is also used to
manufacture packaging materials, automotive interior components,
and industrial compounds.
Bio BDO is produced by fermenting sugars derived from renewable
sources such as sugarcane or corn. Compared to conventional
products that are produced with fossil fuels, Hyosung's bio BDO is
expected to reduce carbon dioxide emissions by over 90%, making it
a highly regarded material in the eco-friendly market.
- Investing KRW 1 trillion in
Vietnam to establish a bio
butanediol plant with an annual production capacity of 200,000
tons
After observing the rapid shift in the global textile market
toward eco-friendly products, Chairman Cho swiftly decided to
invest in bio BDO.
In April, Hyosung TNC announced its plan to invest KRW 1 trillion in southern Vietnam's Bà Rịa–Vũng Tàu Province to build a
new plant capable of producing 200,000 tons of bio BDO
annually.
The company plans to start production and sales of bio BDO with
an initial capacity of 50,000 tons per year beginning in the first
half of 2026.
- The world's first integrated production system for bio
spandex, from raw materials to finished fibers
With Chairman Cho's investment in bio BDO, Hyosung TNC will
establish the world's first vertically integrated production system
for bio spandex in Vietnam. The
plant in Bà Rịa–Vũng Tàu Province will produce bio BDO, which will
be converted into PTMG at the Dong
Nai plant, and subsequently used to mass-produce bio
spandex.
This integrated production system is optimized for customers in
the global eco-friendly premium textile market, including
Europe and the United States. It enhances production
efficiency through stable raw material supply and allows for quick
responses to market demands by speeding up the production system's
operations. Additionally, it secures cost competitiveness by
reducing transportation costs and minimizes environmental impact by
lowering fuel consumption for transportation.
Chairman Cho Hyun-joon stressed,
"The bio business, which focuses on transitioning from fossil
fuel-based raw materials to plant-based ones, will be a key pillar
of Hyosung's centennial vision. Strengthening our global market
strategy by focusing on our bio BDO and bio spandex integrated
production system is key to elevating Hyosung's premium brand
status."
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SOURCE Hyosung Corporation