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Hankook records double-digit global growth in Q1

Hankook Tire has reported continued sales growth during the first quarter of 2012. Growth was experienced in North American and European markets, and the company said demand for its ultra high performance tyres had rapidly increased during the first three months of the year. Seung-Hwa Suh, vice chairman & global CEO of Hankook Tire said: “Despite continued global economic downturn, we have been able to set global sales growth and operating profit based on consistent tyre quality improvement as well as brand equity enhancement.

1st May 2012/by Tyrepress Editors

Divestment of Hankook tyre business approved

On 25 April, Hankook Tire Co., Ltd. reported to the Korea Stock Exchange that its Board of Directors has approved the divestment of its tyre business, effective 1 September 2012. This measure is being taken to improve shareholders' and corporation value. The company will remain listed and the division being divested, Hankook Tire Worldwide Co., Ltd., will form a public company.

30th April 2012/by Tyrepress Editors

Hankook survey shows strong US interest in eco-tyres

According to the results of Hankook Tire America’s “Spring Gauge Index”, 61 per cent of drivers in the US would be interested in buying eco-friendly tyres. The main reason for making such a purchase is the potential fuel savings they’d deliver; Hankook’s study shows that 68 per cent of drivers who’d buy eco tyres gave this reason as their motivating factor.

23rd April 2012/by Tyrepress Editors

Hankook to supply BMW 3-Series

In recent times run-flat champion BMW has spurned this particular sort of tyre for a number of entry-level models, and now it is offering its 316d to 320d and 316i to 320i with standard tyres. Hankook has been selected as a supplier for this more affordable end of the range; its Ventus S1 evo² has will be fitted in size 205/60 R16 W as original equipment. Following on from the Mini and the 1-Series, the new 3-Series is the third BMW Group model to be fitted with the Korean manufacturer’s tyres.

16th April 2012/by Tyrepress Editors

Hankook takes over as Formula 3 Euro tyre supplier

Last year Kumho announced it would cease its nine year-tenure as tyre supply to the Formula 3 Euro Series at the end of 2011. The series, run as part of the Hankook-supplied German Touring Car Masters (DTM), now has a new sole tyre supplier. Unsurprisingly, it’s Hankook.

5th April 2012/by Tyrepress Editors

Analysts: Michelin trying to recover lost market share with Tigar expansion

Michelin is aiming to recoup part of the market share it has lost in the last decade by pushing up tyre production and sales volume across the board. That’s the view of financial analysts at Morgan Stanley who described the company as “swimming in red ocean.” Referring to the 170 million euros the company just announced it is putting into increasing budget tyre production at its Tigar plant in Pirot, Serbia, financial analysts described the funding as “a small investment for Michelin”, but a “big clue for investors.”

3rd April 2012/by Tyrepress Editors

Hankook long haul tyres OE for Freightliner

Under a newly-announced original equipment supply agreement, Hankook Tire will supply Daimler Trucks North America (DTNA) with tyres for its Freightliner Cascadia and Coronado models, starting in May 2012. The two flagship Freightliner trucks will be equipped with Hankook Tire’s AL11 steer and DL11 drive tyres, the tyre maker stated during the 2012 Mid-America Trucking Show.

26th March 2012/by Tyrepress Editors

Hankook names Northern Italy logistics provider

A three-year agreement covering Northern Italy has been signed between Hankook Tire Italy and CEVA Logistics. Under the terms of the deal, CEVA manage the storage, distribution and reverse logistics for Hankook’s tyres at its facility in Somaglia, near Lodi in Italy. A dedicated 6,000 square metre area will be reserved for the tyre maker within the Somaglia site, and from there CEVA will use to incoming and several outgoing vehicles each day to distribute car, light commercial vehicle and truck tyres across northern Italy and will also manage a shuttle service to Hankook Tire’s main warehouse in Rome, which serves the central and southern areas of Italy. Over the course of a year CEVA estimates it will handle 500,000 tyres across 400 product lines.

20th March 2012/by Tyrepress Editors

Hankook launches Vantra LT

Hankook Tire’s light commercial vehicle line-up has been expanded with the introduction of a new all-season light truck tyre, the Vantra LT. The company says it developed the range to deal with the high demands placed on passenger and goods transport vehicles in regional traffic; it adds that durability, fuel efficiency and mileage played a key role during development, as did safety-related driving characteristics such as short breaking distances and superior wet performance. The new Vantra LT is available in 34 dimensions, covering 14 to 16-inch rim diameters in series 82 to 60 and tread width from 165 to 235. All tyres in the Vantra range bear the M+S marking.

20th March 2012/by Tyrepress Editors

Al Dobowi begins Hankook supply deal for Dubai’s taxi fleet

Dubai’s Roads & Transport Authority (RTA), the body responsible for taxis within the emirate, has signed a taxi tyre supply contract with the Al Dobowi Group. The two-year deal, valued at AED 10,558,195 (£1.8 million) deal, was signed by Al Dobowi executive director Harjeev Khandari and Yousef Al Ali, acting CEO of the Dubai Taxi Corporation. Under the terms of the agreement, Al Dobowi will supply Hankook tyres for and undertake tyre maintenance on Dubai’s taxis.

12th March 2012/by Tyrepress Editors

Swedish touring championship to run on Hankook tyres

Hankook has signed on as official tyre supplier to the Swedish TTA – Racing Elite League (Elitserien i Racing) touring car championship, and will provide competitors with its Ventus F200 slick and Z207 rain tyre for each of the coming season’s eight races. Announcing the deal, Hee-Se Ahn, Hankook Tire vice-president for Marketing & Sales in Europe, stated “we are truly excited about our new partnership with the TTA. With this partnership we are taking a significant next step in our European motorsports engagement as it is the first time we are the exclusive tyre supplier to a racing series in the Scandic markets. The TTA’s approach to motorsport of constant refinement of their cars with innovative materials and designs is the type of racing that perfectly matches our company motto 'Driving Emotion'.”

12th March 2012/by Tyrepress Editors

Korean, Japanese evaluations confirm Enfren Eco rolling resistance credentials

Hankook reports its Enfren Eco H433 has been given the top grade for energy efficiency in the ratings set out by the Korea Energy Management Corporation. The tyre maker says the H433 is the first tyre from a Korean manufacturer to receive this grade. In December 2011 the tyre also received the highest AAA rating for rolling resistance in the labelling system set up by the Tire Fair Trade Commission in Japan.

6th March 2012/by Tyrepress Editors

Hankook to present new e-cube sizes at CV Show

With commercial tyre sales show continual year on year growth, Hankook is once again appearing at the Commercial Vehicle Show at the NEC 24 – 26 April 2012.

The company will be presenting a range of tyre solutions at this year’s show including the Hankook e-cube AL10, TL10, AH22+ and RA18 and specifically new sizes for the e-cube. The Hankook AL10 e-cube tyre for the steer axle is now also available in super single size 385/55 R 22.5 for better fuel economy.

5th March 2012/by Tyrepress Editors

Hankook Australia opens new warehouse, sponsors night football

Hankook Tyre Australia says the relocation of its New South Wales warehouse will improve distribution to dealers in that state. YCH Logistics, located at Sydney's Eastern Creek, will be the new central depot for Hankook tyres in the state; the facility replaces the warehouse currently located at TOLL Logistics in Yennora. The Yennora warehouse will continue to operate until the end of March.

5th March 2012/by Tyrepress Editors

CDP Group discusses counter-trend strategies in Italian wholesale market

CDP Group’s CEO Andrea Reggi calls 2011 "a year of consolidation", which ended with success. While the turnover remained constant at about 38 million euros, net profit came in at more than 2 million euros, an improvement of 15 per cent over the previous year and a percentage of profit on turnover of more than 5 per cent. Reggi hit the targets he stated in an interview with PneusNews.it last year: to strengthen the company’s financial position, increasing the return but not the turnover. "In 2011 I wanted to understand if the 38 million euros in revenue, achieved in just three years, was a temporary episode due to specific factors such as winter 2010," said Reggi.

1st March 2012/by Tyrepress Editors