Invista plans to make an additional total investment of $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 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. The company is the only spandex producer with local production in Asia, Europe, North America and South America.
Since 2006 Invista has added, announced or entered into agreements to add more than 45kt of additional spandex/elastane production in Asia, North America, South America and Europe, more additional capacity than any other producer. “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.
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.
“Our goal is to maintain our leadership position as the largest and most innovative spandex producer in the world,” said Duncan.
