Century Synthetic Fibre Corp, a leading company in manufacturing and trading of draw textured yarn (DTY) in Vietnam, held a groundbreaking ceremony earlier this month to set up a new plant in Trang Bang Industrial Zone, Tay Ninh province.

 

The new plant, being established with a total investment of US$ 33.9 million, is expected to go operational from the third quarter of 2015. However, the plant would become fully operational in the first quarter of 2016, according to Dang Trieu Hoa, chairman of the company.

 

For investment, the company would be borrowing 70 percent of the funds from financial institutions and the remaining 30 percent is expected to come from equity shares.

 

The company would set up the most modern technology for automatic DTY spinning, manufactured by Oerlikon (BARMARG, Germany).

 

The new plant would help the company have enough fibre products to take advantage of the Trans-Pacific Partnership (TPP) agreement. It would also enable it to cooperate with other partners to expand production to the fields of textile dyeing, completing its supply chain.

 

Century Synthetic Fibre Corp was founded in June, 2000, with an initial capacity of 4,800 tons of DTY. Today, the company has increased its capacity by more than 8 times to 37,000 tons of yarn per year. More than 70 percent of the company’s output is exported to other countries. In 2009-13, the company’s sales have grown at an average rate of 41 percent per year.