Hankook Tire reports that it is currently discussing original equipment tyre supply opportunities with “several top-tier US auto manufacturers,” with a view to becoming the original equipment supplier for a “handful of popular 2019 models.” The tyre maker says it is also negotiating “notable partnerships” in the USA for this year.
Hankook Tire will supply all Scania’s construction vehicles with tires in an expansion of its current contract with the commercial vehicle manufacturer, according to South Korean news service Yonhap.
Hankook started supplying original equipment tires to the Swedish company in November 2016. The expansion of the deal puts Hankook’s OE tires on the Scania XT truck, the company said in a statement to Yonhap.
An agreement signed at Autosport International last week seals Hankook Tire’s status as exclusive original equipment tyre supplier to Peterborough-based sportscar manufacturer Radical. Hankook tyres will be fitted to Radical’s road and racing models, and through the supply partnership Hankook will be represented in various international racing series in which Radical is closely involved.
Hankook has named 55-year old Soo-Il Lee as the new president and CEO, effective as of January 2018.
He brings with him a wealth of experience from various positions within the company. This includes his roles as MD of Hankook France (2001-2003); director of global marketing from 2006; COO of Hankook Tire America (2009-2012) and China (2013-2016); as well as chief of marketing and corporate management (appointed earlier this year) at the company’s global headquarters.
In addition to new president and CEO Soo Il Lee, who will serve alongside Hyun Bum Cho as a separate representative of the company from 1 January 2018, Hankook Tire Co. Ltd. has named a new executive vice-president, five senior vice-presidents and 17 vice-presidents. Announcing these appointments, the tyre maker states that it has restructured its organisation to “respond to the global market and customers with more agility.”
A new concept tire from Hankook will be showcased on the new electric drive concept vehicle from Volkswagen, the I.D. Crozz II, at the IAA in Frankfurt. Following the world première of the concept car in Shanghai in April, the company is presenting a new version of the I.D. Crozz at the IAA. Like the Volkswagen I.D. and the I.D. Buzz, the latest generation from the Volkswagen Group is also equipped with Hankook tires.
Seoul, Korea / Neu-Isenburg, Germany – Hankook Tire has posted a 34.4% drop in operating earnings for the second quarter on global sales 3.5% lower at €1.341 billion, the company announced 9 Aug.
The Korean tire maker linked the earnings decline, which saw operating profit fall to €163.9 million, was mainly due to higher raw materials prices.
On a brighter note, Hankook said quarter-on-quarter sales revenue had increased, with growth “outpacing the market.”
Hosung Suh has been named the new president of Hankook Tire America. It is hoped that with his previous strategic planning experience at Hankook, and in roles within companies in both the USA and Korea, he will excel in growing Hankook Tire’s market share in the USA.
“The United States market is very important to Hankook Tire. I am excited to join our outstanding team to achieve the company’s goals in this region,” said Suh.
NASHVILLE, Tenn. — Hankook Tire America Corp. has renewed its commitment to DAV (Disabled American Veterans), which provides free services to veterans of all generations.
London – Hankook Tire is delaying the start-up of its tire plant in Clarksville, Tennessee, which had been scheduled to commence operations over a month ago.
In a written statement to ERJ, a Hankook spokesman confirmed that the US facility is “not producing tires for commercial distribution at this time.”
The Clarksville plant, the statement added, is currently “training employees and refining processes as we prepare to ramp to commercial production.”