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Hankook: Stopped Subsidy Reports False

Hankook has flatly denied reports that the Hungarian government has stopped an $820,000 training subsidy, characterizing them as “misinformation.” One company spokesperson told Tyres & Accessories that, while Hankook was perfectly entitled to claim such a subsidy, the Korean manufacturer hadn’t in fact applied for one. Therefore Hankook maintains that the Associated Press’ earlier report that the Hungarian government had stopped an $820,000 training subsidy payment to Hankook Tire Co. due to violations of the country’s labour laws is totally false.

28th November 2007/by Tyrepress Editors

Hankook Announces Price Increase

(Akron/Tire Review) Hankook Tire America Corp. is raising prices by up to 5 per cent on its full line of passenger and light truck/SUV tyres, effective 1 Januar, 2008. Specific increase levels will vary by line and size, Hankook said.

28th November 2007/by Tyrepress Editors

Ceat OTR Factory Plans in Final Stage

Plans by India’s Ceat Ltd to build a factory for the production of 60 tonne OTR tyres should be finalised by the end of the year or shortly afterwards, and construction of the new facility, located near the city of Patalganga in western India, is anticipated to begin by next May. The newspaper Hindu Business Line also reports that ‘sources’ claim discussions between Ceat and possible partners are in an “advanced stage”, indicating that a second-tier tyre major is the most likely collaborator for such a project. The Hindu Business Line named Yokohama, Toyo, Cooper, Kumho and Hankook as likely providers of “decent radial technologies.”

27th November 2007/by Tyrepress Editors

“Smuggled” Tyres Trouble Pakistan Retail Market

International News

Tyre retailers in Lahore, Pakistan have noticed a sharp increase in the number of “smuggled” tyres from India, China, and Dubai, causing putting locally produced brands at a disadvantage, according to The Post. One report suggested that the illegal business continues unchecked in the city, “perhaps in connivance with the law-enforcing agencies”. When asked, Bismillah Tyres at Ravioli Cinema told The Post that in earlier days, the profit margin was not as good but now, “we are doing a roaring business. It is because every other family has their own car,” he said.

26th November 2007/by Tyrepress Editors

Government Relations in Hungary on Track, Assures Hankook

A representative from Hankook Tire has commented on published news regarding the company’s operations in Hungary, allegations initially released by South Korea’s official news agency, Yonhap News, and repeated in the English language newspaper the Korea Times.

The Korea Times reported that the Hungarian government has cancelled previously agreed upon subsidy payments. However, when speaking with Tyres & Accessories, Hankook Europe public relations manager Felix Kinzer refuted the occurrence of any such event. “Both contract parties are fulfilling their contractual obligations according to the agreement,” stated Mr. Kinzer. “Part of these obligations is paying the subsidies according to the progress of the investment.” The more Hankook invests, reiterated Kinzer, the more they will continue to receive in subsidies.

26th November 2007/by Tyrepress Editors

Evans JR to Race on ‘Evans Developed’ Hankook Tyres

For many 18 year olds, the burning questions next weekend will be which pub to visit, whether to watch football on TV and what’s for Sunday lunch. But for Elfyn Evans, his attention on the weekend and the days of November 29 to December 2 will be focused upon which Hankook tyres will work best in South Wales and how fast he can drive his Ford Fiesta in the forest without crashing. Elfyn is one of the youngest competitors taking part in Wales Rally GB – Britain’s round of the World Rally Championship – a three day high speed test of car and crew around the forests of South Wales – and one of the sport’s toughest challenges.

And for Elfyn, the prospect of competing on the world stage is something he is relishing, especially as the race brings him into competition against his dad Gwyndaf – a former British Rally Champion and Wales Rally legend. “It’s tremendous to be given the opportunity to compete this year and although Dad is much higher up the field and in a more powerful, four wheel drive Mitsubishi, it will be great to compete on such a high profile event together,” said Elfyn. “I remember dad taking part when I was really young and never thought I would have the opportunity to compete this year.”

22nd November 2007/by Tyrepress Editors

Brityrex 2009 Appoints Steering Committee

Peter Gaster, group managing director of KRT and current chair of the NTDA, has agreed to lead a new steering committee, which was formed by the NTDA to support the organisers of Brityrex in the run-up to Brityrex 2009. Alan Baldwin, David White, Ashley Croft and Darren Duguid are just a few of the other well known industry names that have committed their time to the project (full list below). “We are delighted to attract such a wide range of talent from our sector and I look forward to working with the group to further develop this vital show for the UK tyre industry,” Peter Gaster commented. The first meeting of the steering group will take place in London on Thursday 6 December.

19th November 2007/by Tyrepress Editors

Hankook Issues Statement Regarding Worker Claims

(Akron/Tire Review) Hankook Tire has issued a statement in response to news reports that South Korea’s Ministry of Labour is investigating the relationship between the working environment at two of Hankook’s factories and the sudden deaths of 14 employees. The deaths being investigated occurred between May 2006 and October 2007, and workers at the company’s factories in Daejeon and Geumsan, claim the deaths can be linked to a toxic chemical solvent used during the manufacturing process – a claim Hankook reports it has examined but as yet remains unverified.

Hankook’s statement says:

13th November 2007/by Tyrepress Editors

Workers Blame Manufacturing Solvent for Hankook Factory Deaths

Korea’s Ministry of Labour is investigating the relationship between the working environment at two of Hankook’s factories and the sudden deaths of 14 plant employees over a 17-month period. The deaths in question occurred between May 2006 and October 2007, and co-workers of the deceased employees, all workers at the company’s South Korean factories in Daejeon and Geumsan, North Chungcheong Province, claim the deaths can be linked to a toxic chemical solvent used during the manufacturing process – a claim Hankook reports it has examined but as yet remains unverified.

8th November 2007/by Tyrepress Editors

Hankook Signs Deal with ALMS Team

(Akron/Tire Review) Hankook Tire Co. has signed a sponsorship and supply agreement with Corsa Motorsports, which will compete in the 2008 American Le Mans Series (ALMS) in the GT2 Class. “For Hankook, this is about showcasing our technology on the premier stage of road racing,” said Bill Bainbridge, director of brand communication for Hankook Tire America Corp. “We are as devoted to winning on race day as Corsa Motorsports.”

“Our agreement with Hankook puts us back in the game with a partner who is fully committed to putting the most competitive car out there,” said Steve Pruitt, who heads Corsa Motorsports. “We have some of the most technologically advanced cars on the track; we want to transfer that technology to the asphalt to put us in the best position to make it to Le Mans.”

7th November 2007/by Tyrepress Editors

Hankook Staff Farewell Transaid Charity Cyclist

Staff from Hankook Tyre UK’s premises in Daventry were on hand to give charity cyclist Gary Williams a big send off as he heads to Kenya for a 400km charity cycle ride. Williams is making the trip to raise money for Transaid – a charity committed to making transport systems more affordable, available and efficient in developing countries, and the 55 year old joins a number of cyclists from the UK for the journey, including Radio 2’s Sally ‘traffic’ Boazman. The charity ride gets underway in Nairobi on Saturday November 10 before heading through Rift Valley to Kisumu in an event set to raise thousands of pounds for the charity.

2nd November 2007/by Tyrepress Editors

Like Father, Like Son

The Wales Rally GB is set to be a family affair in 2007, with 18-year old driver Elfyn Evans competing against father Gwyndaf. Evans the younger has proven to be one of the country’s rising rally stars this year, finishing third overall in the Fiesta Sporting Trophy, and he is now relishing the chance to tackle the home round of the World Rally Championship alongside his former British Rally Champion father, who has spent the season driving for the Mitsubishi rally team in the BRC.

Organisers believe it is more than a decade since a father and son competed head on against each other in the event – the most recent being Roger and Matthew Clark in 1995 and Jimmy McRae against both Colin and Alister in 1993. Elfyn and co-driver Richard Edwards will continue to use their trusty Fiesta and have secured backing for the rally from Hankook Tire – the main sponsor of Gwyndaf’s BRC efforts in 2006.

1st November 2007/by Tyrepress Editors

Information on Hankook Tyre Theft Sought

A container of truck tyres were stolen from Hankook Tyre early on Thursday morning. The company is any seeking information regarding this occurrence. The sizes of the tyres stolen are 315/80R22.5 AH11, 275/70R22.5 AU02W and 295/80R22.5 AH11. The contact number should anyone have any information is 01327 304100.

29th October 2007/by Tyrepress Editors

Information on Hankook Tyre Theft Sought

A container of truck tyres were stolen from Hankook Tyre early on Thursday morning. The company is any seeking information regarding this occurrence. The sizes of the tyres stolen are 315/80R22.5 AH11, 275/70R22.5 AU02W and 295/80R22.5 AH11. The contact number should anyone have any information is 01327 304100.

29th October 2007/by Tyrepress Editors

Hankook Teams Up With Record Label and Bands

(Akron/Tire Review) Hankook Tire America Corp. is partnering with New Jersey-based Eyeball Records. In the deal, Hankook will supply tyres to groups on the label for their touring vehicles. In exchange, the groups and label will promote the Hankook brand, including exposure on the label and band’s Web and myspace.com sites.

“We’re really excited about teaming up with Eyeball Records and their bands, including New Atlantic,” said Keven McDonald, Hankook’s advertising and PR coordinator. “Young musicians are generally stretching their budgets as far as possible, now these guys will have one less thing to worry about. We’re looking forward to helping the bands from Eyeball get where they need to go.”

11th October 2007/by Tyrepress Editors