Sustainable Spandex Investment from Migiboy

Vehbi Canpolat, Chairman of the Board of Migiboy Group of Companies

Vehbi Canpolat, Chairman of the Board of Migiboy Group of Companies, said, “Our country’s annual spandex requirement is approximately 60 thousand tons. With our factory, where we will employ 500 people, we want to convert imports into exports by meeting the needs of the Turkish textile industry, 40 thousand tons. We aim to produce 100 tons per day with our investment, which will also contribute significantly to our sector’s exports.”

THE TARGET IS TO PREVENT IMPORTS

Saying that they aim to grow by 50 percent this year, Chairman of The Migiboy Group  Vehbi Canpolat said, “The apparel production in our geography is increasing day by day. The need for fabric and yarn increased. The Spandex market, on the other hand, is in the hands of companies with international large-capacity factories in China and Korea. Production in the West is negligible. Therefore, this investment of ours is of great interest to European countries. The unit price of spandex is currently around $15. This increase, especially in raw materials, is valid for all products. Although spandex prices are so high in the world market at the moment, we anticipate that the prices will decrease by half in the coming period.” said.

DAILY PRODUCTION CAPACITY IS 100 TON

Stating that the company made many investments during the pandemic period, Canpolat shared the following information: “2020 was a year when global trade came to a standstill. Despite this, we achieved our target figures and continued our investments at the same time. We increased capacity of our factory in Kahramanmaraş to 500 tons by completely renewing it with an investment of approximately 7.5 million Euros to produce yarn with Vortex technology, which is new in the world. We are establishing a completely new factory in Çorlu. The new factory we will establish in Niğde Organized Industrial Zone is a factory of 400 thousand square meters, 100 thousand square meters of which is closed, and approximately 200 of this number, of which approximately 500 people are employed, will be white-collar.

Although the last product produced in the facility that we established is yarn, the facility is more of a chemical refinery than a yarn facility. We will have laid the foundation by the end of the year. The completion time is 18 months in our agreement, but we aim to complete it within 14 months. Our daily production target is 100 tons. The factory we established is a completely green and sustainable factory. We are preparing a factory that will include all technologies such as systems that use less water, collecting rainwater, reusing used water, and solar energy. The whole industry is working in this direction, but we lead the factories that carry out their production at this level in a sustainable way.”

“WORLD TRADE IS FIGHTING WITH TWO BIG PROBLEMS”

 Stating that global trade is dealing with two important problems, Vehbi Canpolat said, “Currently, we are struggling with the monopoly of container companies and raw material producers. It increased the container fee of 2 thousand dollars to 10-15 thousand dollars. This is a huge problem for us because we outsource the main raw material. The world outsources all of its main raw material products to the Far East. Countries like ours need to rapidly industrialize and start production in all aspects.

The fact that the Far East bloc is unrivaled at the moment causes serious injustices in prices. It is a situation that can be broken when countries like us, which have an industrial culture and infrastructure, return to production, but giant factories have emerged in front of us. It is difficult to compete with factories that produce 10 thousand tons a day. However, we do not give up. We must industrialize and become a good supplier of the world. Our geographical location is very suitable for this.” used the phrases.

GREEN SPANDEX

Adding that spandex is an environmentally friendly product, Canpolat said, “This type of fabric has no waste. Only electricity and natural gas are used in production processes. It is not a raw material that is knitted or woven on its own. It is used at a rate of 3 to 5 percent when making a knitted fabric or weaving. For this reason, while the products are being transformed, Spandex is also included in the transformation.” said.