Hankook Archives - Page 59 of 80 - Tyrepress

Posts

Analysts Expect ‘Lacklustre’ 2Q from Korean Tyremakers

When Hankook Tire kicks off the second quarter earnings season for auto/auto part makers on 20 July, it will set the tone for a “lacklustre” set of results from the Hankook, Kumho and Nexen, according to Deutsche Bank. In an investor’s note dated 1 July 2010, Deutsche Bank research analyst Sanjeev Rana: “We expect tyre makers such as Hankook and Nexen Tire to report in line or slightly below consensus results due to the burden of higher rubber
prices.”

7th July 2010/by Tyrepress Editors

Work Begins on Nexen PCR Plant

Construction work on Nexen’s newest passenger car and light commercial vehicle tyre factory in South Korea’s Gyeongnam Province has begun following its groundbreaking ceremony on June 24. The 500,000 square metre Changnyeong facility is being built with a 1.2 trillion won (£646 million) investment and Nexen anticipates its output will boost the company’s South Korea and China total to 60 million pieces per annum.

6th July 2010/by Tyrepress Editors

Wholesale Stalwart Dick Anderson Retires

After some 46 years in the industry, well known tyre industry veteran Dick Anderson retired from wholesaler RH Claydon on 30 June. Having started as a youngster in the industry with North British Tyre & Rubber (latter to become Uniroyal Tyres) in Edinburgh in 1964, Anderson says that he has enjoyed his time “in a fascinating and now complex industry” and seen the many changes over the years.

5th July 2010/by Tyrepress Editors

Hankook OE on Lincoln MKT

Hankook Tire’s North American OE activity is growing – in more ways than one. For the first time ever, the Korean tyre maker will supply a 20-inch high-performance tyre as original equipment to a North American manufacturer. This sizable dimension will be fitted as an option on the Canadian market 2011 Lincoln MKT, due to be released later this year. Other MKT models will be equipped with 19-inch Hankook tyres.

29th June 2010/by Tyrepress Editors

Le Mans Results a Victory for Tyre Makers

Tyre makers whose products performed well in the 24 Hours of Le Mans have expressed delight with the results obtained. First amongst this group, naturally, is Michelin, following a one-two-three Audi finish. Following the successive eliminations of its four main Peugeot rivals, the Michelin shod Audi team was able to secure a fourth hat-trick at Le Mans. In addition to monopolising the top three places in the overall standings, Michelin runners took the top prize in each of the four classes for the third straight year.

17th June 2010/by Tyrepress Editors

Reports: Michelin May Pull the Plug on F1 Tyre Bid

Michelin is reportedly close to pulling out of its present bid to supply tyres to Formula One in the 2011 season of the motor racing series. If correct the news reports, which are based on French newspaper L'Equipe’s publication of an interview with Michelin managing partner Didier Miraton, leave Pirelli as the front runner. Rumours have suggested Pirelli has been favourite to secure the contract for a few weeks, but delays in agreeing a deal had suggested Michelin was still in the running.

15th June 2010/by Tyrepress Editors

Hankook Offers US Consumers Tyre Safety Tips

In coordination with National Tire Safety Week, Hankook Tire America Corp. is offering tips and advice to ensure consumers’ tyres are in good working condition for summer travel, reports Tire Review. “Not maintaining proper tyre inflation pressure costs consumers hundreds of dollars during their driving lifetime,” said Bill Bainbridge, director of brand communications for Hankook Tire America Corp. “Even slightly underinflated tyres require more energy and build up damaging heat more quickly. This leads to reduced fuel economy and paying more for gas than you need.”

9th June 2010/by Tyrepress Editors

Report: Hankook Considering Formula One Supply

Hankook Tyres is reportedly planning to supply its tyres to Formula One racing teams “within a few years.” The Australian Brisbane Times quotes Hankook executive vice president, Hyun Bum Cho, as saying: “In the future we want to have some hefty market share in that [racing] segment. It’s quite profitable…but in order to really leverage from motorsports in terms of brands, you need to participate in either World Rally Championship or a very high segment in Le Mans, or Formula One…So in the future that’s the target that we have, to participate in those segments.”

4th June 2010/by Tyrepress Editors

Analysts: European Car production May Be Higher than Expected

After experiencing 31 per cent growth in the first quarter of 2010, market analysts are predicting that second quarter car production could have increased by as much 10 per cent for the second quarter and may increase 20 per cent for the first half as a whole. Current estimates suggest European production will increase 3 per cent in the second quarter.

4th June 2010/by Tyrepress Editors

Hankook Receives OE Green Light for Extended European VW Supply

The Volkswagen T5 van, produced at the company’s factory in Hannover, Germany, has the distinction of being fitted with the first tyres delivered to a European manufacturer directly from Hankook Tire’s plant in Rácalmás, Hungary. Supply of the Hankook Radial RA 28 in sizes 205/65 R 16 C and 215/65 R 16 C began following a Volkswagen audit held a year ago. A new audit of the Rácalmás facility has now been conducted, and Hankook has received an ‘A’ certification, the highest rating available.

27th May 2010/by Tyrepress Editors

Hankook Announces New North American OE Fitments

Hankook Tire has expanded its North American original equipment portfolio with new additions from Ford, Volkswagen, Hyundai and Kia. The tyre maker now supplies its Optimo H426 for the 2011 North American Ford Fiesta model and for the 2010 model Kia Soul and Forte 2010. In addition, Hankook is expanding its fitment of the Optimo H725 to the 2010 Ford Taurus, the first time a Hankook tyre has been fitted OE to a Ford family car segment saloon in this region. The Optimo H725A will be fitted to the Volkswagen Golf as original equipment in North American markets, continuing a partnership that began last year with fitments on the new Beetle, Jetta and Jetta SportWagen.

21st May 2010/by Tyrepress Editors

Hankook Building Apartments for Hungarian Workers

South Korean manufacturer Hankook is to construct accommodation for its workers in Dunaújváros, Hungary. According to Hungarian news sources, construction on the 2 billion forint (£6 million) project will begin in early summer to be completed in 2011. It will house 500 workers. Hankook also plans to raise the employee numbers at its Hungarian facility from 1,200 to 1,900 claims the report.

6th May 2010/by Tyrepress Editors

Hankook Q1 Operating Profit Surges 501%

Results for the first quarter of 2010, released April 22, show Hankook Tire’s sales to have increased 17.6 per cent year-on-year to 1.3 trillion won (£780.4 million) and operating profit to have jumped 501.2 per cent to 212.2 billion won (£124.1 million). The tyre maker’s operating profit to sales ratio was 15.9 per cent, up from 12.6 per cent in the fourth quarter of 2009.

22nd April 2010/by Tyrepress Editors

Hankook China Plant to Have 10M Unit Capacity

Plans for Hankook Tire to build a new factory in China were outlined on April 22; representatives of the South Korean manufacturer said the construction of a new facility there will aid Hankook’s efforts to consolidate its status as the leading international tyre manufacturer in China. The company also intends to increase its sales there by 15 per cent to US$1.21 billion this year.

22nd April 2010/by Tyrepress Editors

Hankook Opens Second Canadian Distribution Centre

Hankook Tire Canada Corp. opened its second Canadian distribution centre in Richmond, British Columbia this month, bringing Hankook’s total number of distribution centres serving North America to eight, reports Tire Review. The new distribution centre will support retailers and multiple distribution points in western Canada, according to the company.

16th April 2010/by Tyrepress Editors