Hankook OE on BMW 4-Series
The recently-launched 4-Series Coupé has become the sixth BMW Group model to be fitted with Hankook tyres. The 4-Series will be factory equipped with Hankook’s high-end Ventus S1 evo² in size 225/50 R 17 W.
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Hankook to receive US plant site in August
According to local body the Clarksville-Montgomery County Industrial Development Board, the site of Hankook Tire America’s future 140,000 square metre (1.5 million square foot) factory in the US state of Tennessee will be ready by 31 August. Board executive director Mike Evans said “we’re going to do everything we can to get the site ready to turn over to them by that time.” Evans told the full board that a contractor to handle the site work is expected to be selected shortly after a meeting on 17 March.
Hankook gains European funds for second Hungarian plant
The European Commission has authorised €57.9 million of regional investment aid for Hankook Tire Hungary Manufacturing and Trading Ltd. This will be used to erect a second greenfield facility alongside Hankook’s plant in Rácalmás, which entered production in 2007. The new consumer tyre facility will produce ultra-high performance tyres, sealant and run-flat tyres, and these products will be sold globally.
Hankook UK sales director Barrie Horrocks passes away
Hankook Tyre UK sales director Barrie Horrocks passed away on 19 February, following a battle with cancer. The company with whom Horrocks worked for the last 12 years released a statement recognising his “significant contribution to the growth of the company”. Hankook added that he would be deeply missed by all at company and by […]
Hankook, Lanxess join forces for synthetic rubber development
Hankook Tire and German specialty chemicals firm Lanxess will work together on the development of synthetic rubber technologies for use in high performance tyres. The details of the two companies’ collaboration were laid out in a Memorandum of Understanding signed on 26 February. Under the agreement, Hankook and Lanxess will jointly work to expedite the development of synthetic rubber grades for high performance tyres. Lanxess says the MoU builds on the ties it has maintained with Hankook since 2008, when the tyre maker awarded it a long-term contract to supply solution styrene-butadiene rubber (S-SBR) and neodymium performance butadiene rubber (Nd-PBR).
New appointment aims to further expand Hankook Masters Programme
The Hankook Masters Programme was launched in the UK at the end of 2012 and enjoys ongoing growth. To facilitate the scheme’s continued expansion, Hankook Tyre UK has appointed Nick Maltby its franchise development manager. Maltby brings over 30 years of tyre trade experience, gained through senior positions at large independent retailers, into his new role. He joins existing franchise manager Ben Francis in the development of the Hankook Masters Programme.
‘The Ventus Experience’ – Hankook celebrates premium approvals
One of the most effective means of elevating brand awareness is through original equipment fitments, and after rising through the ranks of aftermarket tyre suppliers, Hankook Tire is busy assembling a portfolio of new vehicle approvals that place it in league with the world’s best-known and trusted tyre brands. The list of Hankook original equipment approvals from the last few months alone includes fitments for the Mercedes-Benz S-Class and E-Class, plus the BMW 5-Series and X5. These deals come at a time of growth for Hankook’s performance tyre business – as evidenced by the 12.9 per cent year-on-year rise in European UHP tyre sales during 2013 – and Hankook is in the mood to celebrate its success. The tyre maker recently invited journalists from Europe and beyond to Spain in order to get to know the company and its latest Ventus lines a little better.
Hankook working towards 100% direct distribution in Australia
By the middle of this year, Hankook Tyre Australia will distribute its products directly to retailers throughout the country. The company previously used a number of state-based distributors to supply the Australian market but began consolidating these operations some years ago. Now all regions aside from Western Australia are supplied directly from Hankook, and between now and 31 May 2014 Hankook Tyre Australia will “work closely” with local distributor Koast Tyre in this remaining market towards “a seamless transition” to direct distribution.
UHP tyre sales key to rising Hankook operating profit
Hankook Tire says sales of its UHP tyres were a “key growth driver” in boosting operating profit last year. Accumulated UHP segment sales accounted for 26.5 per cent of Hankook Tire’s entire global sales; UHP tyre sales rose 3.4 per cent year-on-year, growth led by the Chinese and European markets, where accumulated UHP tyre sales rose 13.6 per cent and 12.9 per cent year-on-year respectively.
Hankook Tire Q4 2013 operating profit up 14.6%
In a regulatory filing submitted to the Korea Stock Exchange, Hankook Tire reports sales of KRW 1,708.5 billion (£953.8 million) for the fourth quarter of 2013, a year-on-year increase of 0.5 per cent. Operating income, at KRW 254.8 billion (£142.2 million), was up 14.6 per cent compared to the fourth quarter of 2012. Net profit from continuing operations (before corporate income tax) was reported as KRW 237.0 billion (£132.3 million), a 15.1 per cent year-on-year increase. Net income was not reported.
Hankook investing to expand Indonesia plant
On 17 January, the board of Hankook Tire resolved to invest KRW 380.2 billion (£215.7) in the second stage expansion of the company’s factory in Indonesia. In a statement filed with the Korea Exchange (KRX), the tyre maker said the period of investment would extend until the end of 2015 and involve an 11.8 per cent ratio to equity capital.
Hankook donates to domestic charity
Hankook Tire has donated KRW 1.05 billion (approximately £600,000) to the “Campaign for Sharing Hope 2014” programme run by South Korean charity Community Chest of Korea. The company participated in a fundraising event held in Seoul on 30 December; Hankook has taken part in this event since 2003.
Ho-Youl Pae becomes new Hankook COO Europe
Ho-Youl Pae has been announced as the new Hankook chief operating officer in Europe, following former COO, Jin-Wook Choi’s move to a consultancy role within the manufacturer’s global headquarters. Pae has been promoted from his previous role in the company as marketing & sales executive. Pae will also take on the position of senior vice president and member of the board of Hankook Tire.
Hankook Tire Europe COO heading towards new role
Hankook Tire chief operating officer Europe and member of the board of directors, Jin-Wook Choi will leave his current position following 38 years with the company. Choi will take on a new consultancy role in the manufacturer’s global headquarters, having served more than thirteen years at top management positions around the world.
Hankook wins BMW SUV fitment
Hankook has won an SUV original equipment fitment deal with BMW. The tyre manufacturer will supply a newly developed SUV version of its flagship ultra high performance tyre, the Ventus S1 evo2, to the third generation X5. Hankook plans to launch the tyre, which will be manufactured mainly at its Hungarian facility, on replacement markets in spring 2014.
