Published on March 7th, 2013 | by Daniel Sherman Fernandez0
Hankook Enters Malaysia Officially
From this February 2013, Hankook Tire Malaysia Sdn Bhd will be the sole importer for Hankook Tire Malaysia Distribution. Hankook Tire’s history is the history of Korea’s tire industry. Ever since it launched in 1941 as Korea’s very first tire manufacturer it has paved the way for domestic tire companies for seventy long years. In 2010 Hankook Tire was the largest automobile tire manufacturer with a sales volume ranking as first in the Korean market.
In January 2011 US magazine Modern Tire Dealer conducted a survey on tire manufacturer sales in 2010. Hankook Tire came in seventh place on the chart for five consecutive years from 2006 to 2010. Hankook Tire has increased its overall sales by an average of 13.9% per annum for the last ten years. This proves the company’s potential in the future. Over 80% of Hankook Tire’s sales are derived from overseas markets. There are four local headquarters and twenty-seven local branches throughout the world. Each office serves as a connecting point in Hankook Tire’s global network. Now we export quality tires to over 180 countries. Hankook Tire’s growth is based on cutting edge technology and an international manufacturing system. Powered by five R&D centers and five major tire manufacturing plants in three countries Hankook Tire quickly delivers the tires that fulfill our clients’ needs. With new plants under construction in China and Indonesia we are determined to keep our place as a “Leading Global Tire Company.”
Our Mission is to “Contribute to Advancement in Driving” while our Vision is to be “A Leading Global Tire Company Providing Customers with Value and Pleasure”. We strive to achieve our ambitions of becoming World No. 5 Tire Maker within 3 years from now.
Hankook Tire, one of the fastest growing tire companies in the world, have made $353 million USD investment in building a new manufacturing plant in Bekasi, Indonesia today, devoting more than 50 percent of the plant’s capacity to tires for the North American market.
This large-scale global production facility, to be located in Southeast Asia, will be a valuable addition for Hankook, enabling the Hankook Tire to achieve its goal of becoming a leading global tire company by 2014. Hankook Tire expects its annual global production capability to reach 100 million units that same year.
The addition of a plant in Indonesia will directly benefit the U.S. market and committing approximately 50 percent of the plant’s expected capacity for passenger and light truck tires for North America will help us further meet the growing demand for our high-quality products in the U.S. and Canada.”
Bekasi, located near Jakarta, was an ideal choice for Hankook’s plant, which will provide passenger and bus-and-truck tires to customers in the global markets. Hankook Tire Indonesia Plant is expected to be fully completed by September 2014, rolling out 6 million tires a year. The plant location and design will allow Hankook the option of making additional investments in the facility to meet future needs.
Currently, Hankook Tire has seven production facilities around the globe. The new plant in China is located in Liang Jiang Xin Qu of Chongqing Municipal, which is southwest of China’s biggest industrial and commercial center. This plant will produce approximately 11.5 million passenger car and truck-and-bus tires.
Another large-scale manufacturing plant in Indonesia further reinforces Hankook Tire’s production capacity to compete with the best advantages on the world stage. By 2014, Hankook Tire expects to surpass the total annual production capacity of 100 million units and earn EBITDA of $1 billion USD.
Hankook Tire Malaysia has become the Original Equipment supplier for the new BMW 3-Series. The best-selling model by the Munich-based premium car manufacturer will be factory equipped with Hankook’s high-performance Ventus S1 evo² tires. Initially, the tire size 205/60 R 16 W will be used as standard on the BMW 3 series versions 316d to 320d and 316i to 320i ex works.
Following on from the MINI and the new 1-Series, the brand-new 3-Series is the third model by BMW Group to be fitted with Hankook tyres – another important milestone on the global expansion course set by the tire manufacturer in the premium segment.