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    South Korea’s Hyosung continues to record high performance in the third quarter

    South Korea’s Hyosung, which achieved record highs in the first half of 2021 due to the pre-emptive investment by Chairman Cho Hyun-joong, continues to make progress in the third quarter. Hyunjun has emphasized the importance of turning a crisis into an opportunity in an era of change by continuing to invest in the future.

    Hyosung’s operating profit for the third quarter increased by 1077.98% from the same period of the previous year (11.9 billion won) to 139.9 billion won. The company’s sales also increased by 51.86% to 967.1 billion won. Hyosung Advanced Materials’ sales and operating profit were up 10.9% and 18.7%, respectively, compared to record highs in the second quarter, marking the highest progress ever. Regarding tire reinforcement, which is the company’s main business, the company said in a media statement that sales prices increased from the previous quarter as demand for inventory replenishment continued in the upstream automobile industry, improving the company’s sales and profitability. Said in.

    With regard to carbon fiber, sales prices increased from the previous quarter due to increased demand, and both sales and profitability improved. The industry predicts that sales and profitability will begin to increase in earnest in the fourth quarter, in line with trends in the hydrogen economy.

    South Korea’s Hyosung, which achieved record highs in the first half of 2021 due to the pre-emptive investment by Chairman Cho Hyun-joong, continues to make progress in the third quarter. Hyunjun has emphasized the importance of turning a crisis into an opportunity in an era of change by continuing to invest in the future.

    In the Aramid business, we are proceeding with infrastructure development to stabilize expansion equipment and expand production in the third quarter, and the start of mass production in the fourth quarter will have a positive impact on the increase in sales and operating income. Expected. quarter.

    Fiber2Fashion News Desk (GK)

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    South Korea’s Hyosung continues to record high performance in the third quarter

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    The post South Korea’s Hyosung continues to record high performance in the third quarter appeared first on Eminetra.

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