April 18, 2024

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[THE INVESTOR] Kolon Industries, Korea’s top textile and chemical materials maker, said on Sept. 10 it will expand the capacity of its domestic aramid factory by 50 percent within two years.

The company said it plans to expand the annual capacity of the plant in Gumi, about 260 kilometers southeast of Seoul, to 7,500 tons from the current 5,000 tons by the first quarter of 2020.

Aramid is a type of fiber used in making tires, bullet-proof vests and optical fiber cables because its tensile strength is five times that of steel. It also can resist heat of around 500 C.

“The plant expansion is designed to meet growing demand from major global manufacturers of rubber stiffeners, hybrid tire cords and optical fibers,” a company official said. “It also aims to cope quickly with rising sales in the North American market.”

Kolon Industries started its aramid fiber business in 2005, entering the Asian and European markets under the brand name of Heracron. In 2015, the company made forays into the United States and Canada.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)