Hyosung USA, a subsidiary of Hyosung Korea in the US, will lay off 65 employees (of 350 employees in all) in its tyre cord fabric plant in Decatur, Alabama by the end of the year. The reason for the lay-offs is an increase in polyester yarn costs that is making some products non competitive.

In the US, Performance Fibers acquired INVISTA's industrial polyester division in March 2008, which led to the company being a virtual monopoly in tyre cord polyester yarn manufacturing, and it is planning to raise prices.

Hyosung USA is planning to start production of automotive carpet in the Decatur plant by around the beginning of 2009.

Hyosung purchased a tyre cord fabric business from Goodyear Tire & Rubber Co. for $80 million in December 2006 and acquired tyre cord fabric plants in (1) Decatur, Alabama of the US, (2) Utica, New York of the US, (3) Americana, Brazil and (4) Colmar-Berg, Luxemburg.