On November 22nd, 2011, Hyosung Group acquired 100% of Global Safety Textiles. Through this acquisition, we have expanded our business to include Eastern Europe and Africa, adding subsidiaries in eight countries: Germany, Poland, Czech Republic, Romania, China, South Africa, USA, and Mexico. These complement our existing manufacturing bases in the USA, China, Vietnam, and Europe.
With this acquisition, Hyosung has achieved the industry’s first vertical integration, coupling our airbag yarn production business with GST’s airbag textile and cushion manufacturing. By combining Hyosung’s robust position with GST’s sales and technology capabilities, we are set to establish a stronghold in key global markets.