HCMC – HCMC-based Century Synthetic Fiber Corporation on Tuesday opened a fiber plant in Trang Bang Industrial Park in the southern province of Tay Ninh to increase its fiber production for export and the local market.

Dang Trieu Hoa, chairman and CEO of the company, told the opening ceremony that the US$19.5-million plant was equipped with the closed production chain of Draw Textured Yarn (DTY) from polyester chips with an output of 11,000 tons per year, taking the company’s total capacity to 25,000 tons per year.

Being equipped with advanced machines imported from Germany’s Oerlikon Barmag Group, fiber products from the new factory will meet customers’ demands at home and abroad, according to thecorporation.

The company’s customers include Thanh Cong Textile and Garment Investment Trading Co., Thai Tuan Textile and Garment, and major foreign brand producers in Vietnam like Nike, adidas, Columbia, Ikea, Reebok, Guess, Decathlon. Its products will also be shipped to overseas markets such as Turkey, Switzerland, Taiwan, South Korea, and Thailand, the company said.

According to the corporation, the demand for DTY at home and abroad is rising quickly. Therefore, the company will invest in the second phase of the new plant this year, with a budget of US$12.2 million and an annual output of 10,000 tons per year, Hoa said, adding the phase will be put to operation next year.

Century Corp. currently also operates a plant in HCMC’s Tay Bac Cu Chi Industrial Park producing micro filament draw textured yarn fiber from partially oriented yarn. Given the new plant in Tay Ninh with total capacity of some 25,000 tons a year, the company will have a combined output of 35,000 tons in 2012.

Current output of Century Corp. accounts for 15% of national DTY production estimated at nearly 166,000 tons last year.

The corporation obtained revenues of some VND500 billion last year and it targets to double the figure this year after opening the new factory.

Century Corp. was founded in 2000 as a producer of polyester filament products. The company at a meeting in HCMC last year got approval from shareholders to list on the Hochiminh Stock Exchange, and it is considering a suitable time to trade shares on the market this year.

JANUARY 19, 2011 BY THESAIGONTIMES

Quote: “http://www.vietnambreakingnews.com/2011/01/local-firm-opens-fiber-plant-in-tay-ninh/“