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Hankook continues upward trajectory

Company News, International News, News

Hankook’s results for the second quarter (April-June) of 2013 continue to show steady growth with operating profit up 11.3 per cent and sales up 1.4 per cent year on year. The company achieved a global sales revenue of KRW 1.87 trillion (1.276 billion euro) in the quarter, with operating profit marked at KRW 271.3 billion (185.2 million euro). The company stated that increased sales in the ultra-high performance tyre sector and premium brand equity helped it secure solid sales increases in its major markets.

30th July 2013/12,345 Comments/by Tyrepress Editors

Hankook Truck Master service key for Hicks Logistics

South Wales company Hicks Logistics settled on Hankook tyres as its preferred choice over ten years ago, using the Korean manufacturer’s AH22+ and DH05 tyres on its Scania, Volvo and Mercedes tractor units and the TH22 wide singles, and TH10 for the low loaders, on its trailers. Hankook's new Alphatread retread tyres are set to be tested on the fleet and Hankook expects to be able to deliver increased value for money as a result. Hankook’s service has also been key to the continued association with Hicks; the company has its own dedicated tyre fitter at the head office, and is able to manage its own tyres in the local area. However, when working throughout the UK Hankook Truck Masters are relied on to service the fleet.

16th July 2013/12,345 Comments/by Tyrepress Editors

Aebi Schmidt selects Hankook Vantra LT

Aebi Schmidt has selected Hankook’s Vantra LT tyre for its Swingo 200 street cleaning machines. At over four tonnes, the Swingo 200 is tough machine that can expect a long and arduous working life. This specialist machine also boasts a large hopper capacity, resulting in a 50 per cent bigger payload than other street sweepers.

10th July 2013/12,345 Comments/by Tyrepress Editors

Extra tyre info for DTM fans

Spectators watching this Sunday’s DTM round at the Norisring circuit in southern Germany will no longer have to puzzle over which tyres each driver has selected. Championship tyre supplier Hankook has decided to visually differentiate the option tyres by printing its brand name in larger, yellow text on the sidewall. Viewers at home will also be helped in the tyre department through additional on-screen information; graphics shown on televised coverage will now also indicate which tyres a vehicle is using. This information is transmitted via the rim-mounted sensors each DTM car has used since the start of 2012 to convey information on tyre pressure.

9th July 2013/12,345 Comments/by Tyrepress Editors

Two receive Hankook Tyre UK outstanding service awards

In June Hankook Tyre UK marked the ongoing service of its staff and presented members of the team with awards for outstanding service. The lunch recognised the 10 year anniversary for two members of its senior staff who both started work at the company in 2002.

UK sales director, Barrie Horrocks, was awarded for his outstanding service after celebrating 10 years with the company last year. Horrocks joined the company as commercial sales manager, a role he was in for 9 years before being promoted to sales director in 2011.

5th July 2013/12,345 Comments/by Tyrepress Editors

Analysts: Korean tyre companies outperform index

Korean tyre manufacturers have outperformed the Korean Kospi index year-to-date. According to an investor’s note published by financial analyst at Deutsche Bank, the strong showing has come thanks to “a sharp decline in raw material costs, strong earnings delivery and expectations of demand recovery in in the second half of 2013”, with the latter point welcome news for everyone.

4th July 2013/12,345 Comments/by Tyrepress Editors

Zeisser appointed Yokohama’s North American head of OE sales

Yokohama Tire Corporation has hired Andrew Zeisser as its new director of OE sales. In this role, Zeisser will be responsible for the company’s original equipment business in North America and will lead Yokohama Tire Corporation’s OE sales, engineering and quality functions. He will be based at the company’s Detroit, Michigan office.

3rd July 2013/12,345 Comments/by Tyrepress Editors

Hankook’s Dynapro HP2 adds SUV to high performance range

Hankook’s most recent addition to its high performance tyre range focuses on the increasingly important European segment of SUV tyres designed for high performance road use. In the March issue of Tyres & Accessories, we discussed the migration of SUV tyres to speed ratings above T; V alone has nearly 10 times the market share (20.4 per cent) it had 10 years ago, and though H (34.5) is currently the predominant designation for the SUV market, it is expected that SUV tyres will continue to follow the trends set by passenger cars. Indeed, 2012 saw a small year-on-year reduction in H’s market share. High performance tyres are now the most important story for SUVs as well as passenger cars.

25th June 2013/12,345 Comments/by Tyrepress Editors

Paffett uses new Hankook tyre to sprint to first DTM victory of 2013

In the weekend’s DTM action, drivers were able to demonstrate the strategies made possible by exclusive tyre partner Hankook’s new option tyre in front of 65,000 fans at the Lausitzring. Four of the five fastest drivers started the race with the Ventus Race Plus that allows for faster times for a few laps before the intended drop-off sets in. Other drivers started with the base-line slick tyre and later changed to the option to try to make up lost ground in the first stint. Mercedes-Benz driver Gary Paffett scored his first race win of this DTM season and the first success of the Stuttgart car manufacturer.

17th June 2013/12,345 Comments/by Tyrepress Editors

Ecclestone distances himself from Michelin F1 speculation

Although no comment has come from Clermont-Ferrand, within the last week Michelin has again been named as a future Pirelli replacement as Formula One tyre supplier. But Bernie Ecclestone has been quick to put the lid on such speculation; in his F1 blog, motor racing journalist Adam Cooper writes that when questioned on the subject, Ecclestone responded: “No idea. I haven’t got a clue. I haven’t spoken to anyone. We have a long-term contract with Pirelli, as the FIA do. And I think most of the teams have – I think they’ve done a deal with all the teams they want to do a deal with.”

14th June 2013/12,345 Comments/by Tyrepress Editors

Report: Hankook scouting South Carolina, Georgia and Alabama locations

Hankook Tire Co. is scouting potential sites in South Carolina, Georgia and Alabama for its planned US tyre plant, according to US news sources.

7th June 2013/12,345 Comments/by Tyrepress Editors

Hankook invests 313 million euros in Hungary factory expansion

Hankook Tire and the Hungarian Government have jointly announced details of further investment in the tyre manufacturer’s European production facility, located 60 kilometeres south of Budapest. Hankook plans to invest some 313 million euros in adding a further manufacturing unit to the site, which will create over 950 new jobs and further boost Hankook’s production volume in Europe, bringing capacity up to 17 million tyres per year.

29th May 2013/12,345 Comments/by Tyrepress Editors

Hankook exhibits new tyres at CV Show 2013

Product News, Retreading

Hankook unveiled several new commercial tyres at the CV Show, including the bead to bead retread truck tyre the Alphatread. Additionally Hankook’s latest truck tyres, which aim to fill a gap it identifies between medium and long haul transportation, were displayed, while the brand raised interest in its stand through its sporting sponsorships. Tom May and Phil Dowson, players from Northampton Saints RFC visited the stand, while Hankook also ran a competition to win VIP tickets to football’s Europa League semi-final, a partnership that was announced at last year’s show.

28th May 2013/12,345 Comments/by Andrew

Hankook chairman to strengthen control through capital increase

Seoul-based Korea IT Times reports that Hankook Tire’s holding company, Hankook Tire Worldwide, will increase its capital by issuing capital stock for noncash assets. This is being done in order to make Hankook Tire its subsidiary, the ICT journal explains. Through the capital increase, Hankook Tire chairman Cho Yang-Rai and his family will be able to strengthen their control over the company by doubling their stake in the holding company.

23rd May 2013/12,345 Comments/by Tyrepress Editors

CV Show 2013 exceeds expectations

April’s annual gathering of the UK logistics industry, The Commercial Vehicle Show at Birmingham’s NEC represents a fine opportunity for those in the tyre industry to connect with this side of their business. The 2013 iteration boasted the best exhibitor turnout since 2009, and the show itself seemed to have exceeded many expectations for visitor numbers, which usually number around 16,000 over its three days, the organisers say. Certainly Tyres & Accessories witnessed busy stands visiting the show on day two.

22nd May 2013/12,345 Comments/by Tyrepress Editors