Korean tyre manufacturer Hankook has received an order from Volvo to supply the spare tyre (size T 125/80 R17) for the models V70, S60 and S80, from 1st July this year. It is said that Michelin, who produced these tyres up till now, has delivery problems due to a reduction of production in Great Britain. The order from Volvo is worth around 5 million Euros and for Hankook, it is another foot in the Ford door after the company won its first OE order from Ford last year.
Hankook Tires has recently completed the construction of its new European Distribution Centre at Rotterdam, enabling the tyre manufacturer to improve its service to customers throughout Europe. The EDC – a 10 million Euro investment – was officially opened on 7th March.
RubberNetwork.com LLC, the global electronic purchasing and procurement network, has signed up its ninth member; Korean tyre manufacturer Hankook Tire. The organisation went live earlier this month and US, European and Asian launches will follow this year. The other eight members are Continental, Cooper, Goodyear, Michelin, Pirelli, Sumitomo, Toyo and Yokohama.
The largest supplier of tyre cord in Korea, Hyosung Corporation, is currently suffering a strike. The country’s three tyre manufacturers, Hankook, Kumho and Nexen, have all expressed concern if the strike is prolonged. To obtain sufficient supplies of tyre reinforcing materials, the companies have been talking to Kolon Industries, the second largest supplier of these materials, and are also investigating the possibility of sourcing outside Korea.
The Ford Motor Company in Dearborn has bestowed its Q1 award on Hankook’s tyre plant in Taejon, which produces light truck tyres for Ford. The factory is located 130 km south of Seoul and produces 65,000 passenger car and light truck tyres daily.
Talking to the German newspaper Handelsblatt, Hankook President Choong-Hwan said that the Korean tyre manufacturer wants to strengthen its market position in Europe. Having already expanded with two factories in China, Hankook plans to produce tyres in the EU as well. This will be achieved either by building a new factory or acquiring existing facilities.
If you would like the latest news from the Chinese tyre industry in Chinese, visit our partner site TyrepressChina.com. Or click below to continue on Tyrepress.
