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1st September 2019, South Korea

Hyosung plans world’s largest carbon fibre plant

Hyosung chairman Hyun-Joon Cho at the signing ceremony for various agreements in connection with the huge expansion. © Hyosung.

Hyosung chairman Hyun-Joon Cho at the signing ceremony for various agreements in connection with the huge expansion. © Hyosung.

Hyosung has announced a bold plan to expand it current annual production of carbon fibres from 2,000 tons on a single line to 24,000 tons on ten lines by 2028.

At a cost of KRW 1 trillion, this will create the world’s largest single site carbon fibre plant – currently the record is held by SGL’s site for BMW in Moses Lake, Washington – and propel Hyosung to third place in carbon fibre capacity from eleventh, with a 10% market share.

Hyosung has signed an investment agreement with South Jeolla Province and Jeonju City in respect of the installation and extension of production facilities, as well as investment support. It also has an alliance MOU with South Korea’s Ministry of Trade, Industry and Energy and two other carbon fibre companies – Iljin Composites and KAI – to strengthen cooperation through joint tests.

“We took notice of the future value of carbon fibre and decided to develop our own technology,” said Hyosung chairman Hyun-Joon Cho at the signing ceremony for the agreements. “We will play a major role in turning Korea into a materials powerhouse’ through a further development of carbon fibre because possibilities for its downstream industries are endless and the material has opened new markets in the hydrogen economy.

“We have been world number one in many fields including spandex and tyre cords because we have stubbornly developed our own technologies all the way from materials to production processes to surpass our rivals,” Cho said. “We will keep exploring new fields to sow the seeds of other materials businesses.”

The first of the new carbon lines, with a capacity of 2,000 tons, is currently being erected and is on course to commence production in February 2020.

The plan is expected to create more than 2,300 new jobs by 2028.

www.hyosung.com 

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Comments

  • Echo 2nd September 2019 10:24AM

    I wonder where all those people will stand while the (hopefully fully automatic) machines are running..?

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