Fashion
The LYCRA Company announces new spandex production facility in China
The LYCRA Company, a global leader in innovative and sustainable fiber solutions for the apparel and personal care industries, today announced the official opening of its largest spandex production facility—the LYCRA fiber (Yinchuan) Plant in Ningxia Province, China. This milestone underscores the company’s continued investment in the Chinese market and highlights its strong commitment to developing localized supply and distribution networks while advancing smart manufacturing upgrades.
The LYCRA Company has announced the opening of its largest spandex plant in Yinchuan, China, investing over ¥ 800 million (~$1.12 million) with Yinchuan Financial Capital Investment Group.
The facility will add 30,000 tons of capacity and 500 jobs, with plans to expand to 120,000 tons.
It advances smart, sustainable manufacturing to meet growing Asia-Pacific demand for high-quality spandex.
With a total investment of more than RMB 800 million, the Yinchuan facility is being developed in partnership with The LYCRA Company and Yinchuan Financial Capital Investment Group. In its initial phase, the plant will add 30,000 tons of spandex production capacity, generating an annual output of over RMB 1 billion and creating approximately 500 jobs. Looking ahead, capacity is expected to expand to 120,000 tons annually, addressing the growing demand for high-quality spandex across China and the Asia-Pacific region, while enabling faster, more flexible supply chain solutions.
As The LYCRA Company’s second production site in China, the Yinchuan facility brings together the company’s expert management teams and global R&D capabilities to establish a highly automated, intelligent production ecosystem. Production at the Yinchuan facility will align with the company’s sustainability framework, driving energy savings, reducing emissions, and advancing manufacturing processes, ensuring that business growth and environmental responsibility remain inextricably linked.
“China is strategically important, representing over 50% of the global apparel production market, and this partnership enables us to optimize our product mix more broadly while meeting the increase in demand for quality spandex,” said Gary Smith, CEO of The LYCRA Company. “I would like to express my gratitude to the local authorities and all our partners for their support and commitment.”
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (HU)
Current account excluding gold and energy indicated net deficit of $3.9 billion, while goods saw a deficit of $9.5 billion.
Turkiye recorded a current account deficit (CAD) of $9.6 billion in March, the country’s central bank said.
Treasury and Finance Minister Mehmet Simsek said the CAD is expected to widen this year, due to high energy and non-energy commodity prices.
Simsek said the deterioration is likely to remain temporary and manageable, thanks to stronger macroeconomic fundamentals and policy gains.
According to annualised data, current account deficit recorded as $39.7 billion (2.6 per cent of gross domestic product) in March, while the goods deficit recorded as $77.8 billion.
Simsek said the deterioration is likely to remain temporary and manageable thanks to stronger macroeconomic fundamentals and policy gains, domestic media outlets reported.
Turkiye is heavily reliant on imported energy, whose prices spiralled due to the Middle East conflict.
Simsek said elevated global commodity prices would put pressure on the external balance, but emphasised that the government’s economic programme had improved resilience against such shocks.
He said foreign direct investment (FDI) inflows totalled $1 billion in March, bringing annualised foreign direct investment to $12.6 billion.
The new investment incentive package under discussion in parliament now is expected to strengthen the country’s financing structure and support long-term capital inflows, he added.
Fibre2Fashion News Desk (DS)
During the first quarter of ****, the UK’s imports of textile fabrics eased down *.** to £*,*** million (~$*,*** million), against £*,*** million in January-March **** but slightly higher from £*,*** million in the fourth quarter of ****. Its imports of fibre were noted at £** million (~$***.** million) steady as £** million in Q*, **** but slightly lower than £** million in Q*, ****.
During the third month of this year, the country’s clothing imports declined *.** per cent to £*.*** billion (~$*.*** billion), compared with £*.*** billion in March ****. But the inbound shipment was slightly higher month on month compared with £*.*** billion in February ****.
Higher rents, utility bills and fuel prices are eating away at already thin profit margins, it found.
High inflation is cutting deep into Bangladesh consumer spending, with weak demand turning one of the biggest concerns for businesses, DCCI said.
Higher rents, utility bills and fuel prices are eating away at already thin profit margins.
DCCI’s economic position index revealed that consumers have sharply reduced spending as the cost of living continues to rise.
SMEs are feeling the pressure the most.
The chamber’s economic position index (EPI) revealed that consumers have sharply reduced spending as the cost of living continues to rise, putting pressure on retailers, transport operators and other service providers.
Small and medium enterprises (SMEs) are feeling the pressure the most as they struggle to manage higher operating costs without losing customers.
Businesses also cited difficulties in obtaining bank loans, while delays in licensing and other regulatory procedures are adding to costs.
The DCCI report identified a shortage of skilled workers, particularly in technical and customer service roles, as another challenge for the sector.
The country’s inflation rose to 9.04 per cent in April from 8.71 per cent in March, according to official statistics.
Fibre2Fashion News Desk (DS)
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