SEOUL (May 12)—Hyosung Corp. is planning to set up a 22,000 metric ton-per-year polyester tire cord plant in Jiaxing/Shanghai, China, with production slated to begin in the first quarter of 2004. The polyester yarn plant, which will employ Hyosung's high-modulus/low-shrinkage production technology, will help Hyosung meet growing demand for PET tire cord from Chinese-based tire firms as well as the need for cost-competitive manufacturing in the global tire cord business. Hyosung claims to be the world's No. 1 supplier of polyester tire cord, exporting approximately 50,000 tons of PET cord a year.
Hyosung plans new tire cord plant
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