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Hankook recalls truck tyres in China

Recently Kumho announced the recall of more than 300,000 tyres in China; now it is Hankook Tire’s turn, albeit on a far smaller scale. The Korean manufacturer has recalled 246 Chinese manufactured tyres after national safety authority, the General Administration of Quality Supervision, discovered a fault on June 10. It was found that due to a design or manufacturing fault steel cord protruded through the seams of a number of inspected tyres – a defect that increases the risk of rupturing.

14th June 2011/by Tyrepress Editors

Hankook promotes updated Red Bull Ring

Hankook has released a video promoting the newly modernised, but still legendary Red Bull Österreichring. According to the promotional film drivers will have push their brakes and engine revs to the limit “all the time” round the revamped circuit which, although currently part of the DTM series, is described as a Formula One track.

3rd June 2011/by Tyrepress Editors

Notts logistics firm signs ATS-E supply and service agreement

Automotive logistics firm Blue Dragon Transport has appointed ATS Euromaster to supply and service tyres across its fleet of 20 trucks and 28 trailers. The Nottinghamshire company ended its previous agreement with a local supplier after ATS Euromaster offered to carry out a free fleet inspection and highlight issues it thought might be affecting its tyre budget. ATS-E considered the company’s “lack of brand consistency was contributing to unpredictable fluctuations in tyre expenditure”.

31st May 2011/by Tyrepress Editors

Mini supply first BMW OEM for Hankook

As of late June, Hankook will begin delivering its tyres as original equipment on the Mini. The BMW owned manufacturer will be supplied with the Ventus Prime from the tyre maker’s plants in South Korea under what Hankook calls a “prestigious cooperation;” the company further notes that with this BMW deal it is now successfully competing against tyre makers such as Bridgestone, Michelin, Goodyear and Continental.

30th May 2011/by Tyrepress Editors

Hankook breaks ground on 3rd Chinese plant

Last November, Hankook Tire signed a US$954 million investment agreement to build an 11.5 million tyre per annum factory in Liang Jiang Xin Qu, Southwest China. The plant is scheduled to start operation in August 2012 and build up to an output of 4,500 truck and bus radials and 30,000 passenger car radials per day by the end of 2015; on May 18, 2011, a groundbreaking ceremony was held for this third Hankook Tire factory in China. Senior company management including vice-chairman and CEO Seung Hwa Suh, CMO Hyun Shick Cho and Hankook Tire China COO Ki Yeul Huh joined some 180 government officials from Chongqing region for the ceremony at the factory site.

19th May 2011/by Tyrepress Editors

Hankook Tire America confirms warehouse shift

Hankook Tire America has confirmed it is opening a new warehouse in New Jersey, a 400,000-square-foot (37,000 square metre) facility in Dayton that will replace its current Edison centre in the same state. US industry publication Tire Review first reported on the new warehouse last week after real estate company CoStar Group announced the deal to local media. Hankook said the new warehouse can handle some 610,000 passenger, light truck/SUV and medium truck tyres, a 70 per cent capacity increase over its older location. The new warehouse is scheduled to open later this year.

19th May 2011/by Tyrepress Editors

70th Anniversary an opportunity for Hankook to concentrate on growth

As Tyres & Accessories reported on May 9, Hankook has reached its 70th anniversary. The tyre maker says it has decided against celebrating with “pomp and ceremony” and instead wishes to mark 70 years in the business by concentrating on its sustained growth. In this jubilee year, the South Korean company says it will also renew its promise to customers that in the coming decades it will “still tackle all challenges with passion and commitment and continue regional investment.”

12th May 2011/by Tyrepress Editors

Hankook to raise commercial tyre prices in America

Hankook Tire America is raising prices on its commercial tyre lines, including the Hankook and Aurora brands, by up to nine per cent. The company said amount of the increase, which takes effect June 1, will vary by product line and size.

9th May 2011/by Tyrepress Editors

Happy 70th birthday, Hankook Tire

Employees at Hankook Tire’s headquarters in Seoul, Korea have celebrated the 70th anniversary of the tyre maker’s founding with drinks and a cake-cutting ceremony. While staff applauded the many achievements in Hankook’s last seven decades, the company is also using the milestone as an opportunity to look to the future; Hankook says the occasion calls for “commitment to an incessant passion and readiness for challenges in the next 70 years.”

9th May 2011/by Tyrepress Editors

Analysts raise Hankook price target

Financial analysts have raised their share price target for Hankook stock following the publication of the Korean-based manufacturer’s first quarter results. Writing in an investor’s note published on 21 April, Morgan Stanley analysts wrote: “We are raising our price target for Hankook Tire to 38,000 won and maintaining our equal-weight rating.” The analysts wrote that their change in price target is “predominately driven by our revised earnings forecasts, as well as adjusted share count.”

4th May 2011/by Tyrepress Editors

Hankook celebrates successful DTM debut

High praise for Hankook came after the company’s first DTM race as exclusive tyre supplier. Following the weekend’s touring car race at the Hockenheim circuit in Germany, viewed by some 58,000 spectators including Hankook Tire executive vice-president and Europe COO Jin-Wook Choi and global CSFO Hyun-Bum Cho, race winner Bruno Spengler declared the Hankook Ventus race tyres to be “very good,” adding that “even though we are running a lot over the kerbs here at Hockenheim, the tyres remained consistent. That is really very good.”

3rd May 2011/by Tyrepress Editors

Hankook introduces e-cube tyre to UK fleets…and politicians

With one of the largest tyre-related stands at this year's CV show (along with Bridgestone, Giti, Michelin, etc), Hankook was seeking to raise the profile of its latest commercial vehicle tyre technology amongst UK. As it happened the company got more than it bargained for when government transport minister, Mike Penning MP, dropped in to see the firm’s e-cube (truck) and Kinergy (car) fuel saving technology.

12th April 2011/by Tyrepress Editors

Hankook begins DTM tyre supply

Hankook got underway as exclusive tyre supplier to the DTM championship at the series’ 2011 season launch in Wiesbaden, Germany on April 10. The tyre maker says the start of its season as partner to the popular international touring car championship “marks the beginning of a new era in the company's dedication to international motor sport.” Prior to its DTM involvement, Hankook was primarily engaged in endurance racing.

11th April 2011/by Tyrepress Editors

Blitz Rotary at CV show

Blitz Rotary, who claim to be European leaders in truck lifting technology, are exhibiting at April's CV Show, at the NEC. The company employs the most modern methods of manufacture including fully automatic production facilities featuring welding robots; this results in a very high number of consistently accurate and high quality components being produced in-house.

31st March 2011/by Tyrepress Editors

Hankook adverts back in Times Square

Hankook has returned to New York's Times Square. Once again the South Korean-based tyre maker has secured billboards in one of the most famous adversity locations in the world. The latest banner, presented once again in the form of the successful Ventus V12 evo high-performance tyre, is on the facade of the Marriott Marquis Hotel and is designed to “impress millions of visitors” this time for a whole year. Hankook says it is aiming to reinforce and develop its brand profile and image with the latest campaign.

29th March 2011/by Tyrepress Editors