South Korean fibre manufacturer Hyosung is to invest US$27m in its spandex production facilities in Istanbul, Turkey, in a move that will see the company increase its capacity by around 5,000 tons.

The investment is aimed at meeting rising demand for the fibre in the Turkish market, and to help lift the market share of its Creora spandex brand in Europe and the Middle East.

Once the expansion is complete, which the company says will be by the first half of next year, its annual spandex capacity in Turkey will reach 25,000 tons.

At this point, Hyosung will also have completed the construction of its new spandex plant in Quzhou, China, with an annual capacity of 16,000 tons. As a result, the company says its combined global production of spandex will surge to 221,00 tons by 2017.

The company, which is one of the leading producers of spandex for intimate apparel, sportswear, and outdoor end-uses, says the factory expansion is expected to raise Creora market share to "at least" 31%.

Earlier this year, Hyosung announced it was setting up a new manufacturing facility in Vietnam for its Mipan branded nylon.

Hyosung sets up Mipan nylon facility in Vietnam