INVISTA, the recognized leader in spandex production as well as a wide range of other apparel fibers, fabric treatments and fabric technologies announced that its INVISTA Fibers (Foshan) Co Ltd joint venture plans to make an additional total investment of US$99.6 million in China in connection with a planned new production plant at its Foshan site, in anticipation of the growing demand in high-quality spandex fibers.
The joint venture spandex production plant at Xinan Foshan Plastics Group (FSPG) Industrial Park in Sanshui District of Foshan opened in November 2006. The plant is the largest foreign investment ever made in Guangdong's fiber industry.
The joint venture plans to use its additional total investment to build a new 12.5-kiloton spandex plant next to the existing joint venture site in Foshan.
"With these expansions and other additions in all four of our global regions, INVISTA is well on track to exceed our previously announced global efforts to add approximately 50 kilotons of spandex fiber production in the next three years," said David Duncan, executive vice president of INVISTA.
INVISTA has announced or entered into agreements to add more spandex/elastane production in more geographic regions than that announced by any other producer. Since 2006, the company has added, announced or entered into agreements to add more than 45 kilotons of additional spandex capacity.
"We are now looking at another new spandex production site in Asia," added Duncan.
In addition to expanding capacity, INVISTA continues to extend its lead in environmental stewardship, geographic scope and innovation. The company is the only spandex producer with production in Asia, Europe, North America and South America.
Duncan said, "INVISTA has accelerated its investment in innovation, leading to an unmatched portfolio of powerful patents and trademarks such as XFIT LYCRA fabric, LYCRA FREEF!T fabric, freshFX fabric and COOLMAX fabric." Some of these products have just been introduced at the flagship INVISTA RendezVous trade show held two weeks ago in conjunction with InterTextile Shanghai exhibition and conference.
According to Strategic Insights 2007 Global Brand Tracking Study conducted with consumers in 15 countries, more than 60 per cent of consumers preferred fabrics containing LYCRA fiber to fabrics with generic spandex.
The company has been granted as many spandex/elastane related patents in the U.S. as all competitors combined. In the past five years, it has filed for five times more US patents than the next competitor and nearly two times than all other competitors combined.
"Our goal is to maintain our leadership position as the largest and most innovative spandex producer in the world," said Duncan.
INVISTA is firmly committed to the Asia market with the construction of an airbag fiber plant in Qingpu, Shanghai, a newly acquired nylon carpet fiber plant also in Qingpu, and a plan to build of a world-scale nylon 6,6 intermediates and polymer facility in Shanghai. The company has also just broken ground for a nitric acid plant at the Sakra site on Jurong Island in Singapore.
