FOSHAN, Guangdong - US-based Invista Inc, one of the world's leading integrated suppliers of polymers and fibers, put into operation the second-phase project of its spandex production base in the Pearl River Delta city of Foshan.
Involving a capital input of $99.6 million, the expansion enhances the annual spandex production capacity of the Foshan base to 24,500 tons, doubling the capacity of the initial phase and expanding its total investment to $227.6 million.
The expansion makes Invista's Foshan base one of the world's largest spandex production bases and one of the largest foreign-funded fiber projects in South China's Guangdong province.
"China has become the largest spandex consuming country in the world," said David Trerotola, president of Invista's apparel business.
"With the expansion, Invista continues to demonstrate our commitment to the global market and China, and our ability to anticipate and meet the changing needs of the market."
"We will continue to strive to be the leading producer, seller and marketer of differentiated fibers and related textile innovations for the apparel industry."
In an interview with China Daily on Wednesday, the president reiterated the strategic importance of China.
He said that Invista's spandex production capacity in China now accounts for half of its global total and sales revenue in the country contributes to half of its total worldwide.
"Invista will continue its investment initiatives to fortify its foothold in China," he said, adding that the firm's total investment in the country has already surpassed $600 million, with other production facilities located in Jiangsu province and Shanghai in East China.
Among the ongoing investment projects are its China Textile Research Center, the expansion of its airbag fiber plant and a nylon intermediates and polymer facility in Shanghai, entailing a total investment of about $300 million altogether.
The research center, for the development and commercialization of new fiber, fabric and garment innovations, is scheduled to begin operating in mid-2012; the expansion of its airbag fiber plant, in 18 months; and the nylon intermediates and polymer facility, in 2014.
China's market demand for spandex was estimated at 270,000 tons in 2010, and it is expected to maintain double-digit growth in the next few years.
