Hankook Tire to invest $1.6 billion in Tennessee plant expansion

Goodyear Tire & Rubber Company Releases Corporate Responsibility Performance Report 2020

 

Tyre company, Hankook Tire, will be investing $1.6 billion to expand its Tennessee plant, located in Clarksville, Tenn. The investment includes the previously planned Phase 2 expansion that will double Hankook’s passenger car and light truck (PC/LT) tires’ production capacity. It also adds a Phase 3 expansion, with the company’s first US production of Truck Bus and Radial (TBR) tires. The addition of the Phase 3 expansion project will bring 400 more jobs to the Clarksville area, for a total of 1,200 new jobs overall.

Growing presence in the US
Hankook will double the US PC/LT production to 11 million units and enable the production of one million TBR tyres annually. The expansion also brings the company’s total investment in the area to $2.2 billion and will enable it to further provide tyre dealers and consumers with high quality tyres and industry-leading services in order to meet the demands of the American market, while supporting existing and future OE partners.
 

“The investment in our Tennessee plant further demonstrates Hankook’s growing presence in the US and commitment to serving our customers,” said Sooil Lee, CEO of Hankook Tire & Technology and President of Hankook Tire America Corp, “Through a focus on sustainable construction and innovative manufacturing, the new phase will provide a local-to-local supply chain to fulfil customer demand more effectively. Additionally, we are proud to continue to support the local economy by bringing 1,200 new jobs to the Clarksville area.”

Growth all the way
Ever since Hankook’s state-of-the-art Tennessee plant opened in October 2017, the company has produced 5.5 million tyres annually for the North American market and generated 950 jobs. The North American market accounted for more than 28% of total Hankook tire sales in 2021.

“This production expansion is a vital step to our growth in the medium truck market, making us one of only a few manufacturers producing TBR products in the US,” said Rob Williams, Senior Vice President – North America Sales, Hankook Tire America Corp and went on, “As a result, we can better meet the needs of both our growing dealer base and the fleets that serve the North American shipping lanes.”

Plan of action
Hankook is expected to break ground on the new plant in early 2023, subject to definitive agreements, regulatory approvals and other conditions. Tyre production at the new phases of the plant will begin by Q4 2024 and reach full capacity by early 2026.

“Global brands like Hankook Tire choose to invest in Tennessee because of our strong business climate, workforce and central location,” said Bill Lee, the Tennessee Governor, “I thank Hankook for its continued investment in our state and for creating 400 new manufacturing jobs for Tennesseans in Montgomery County.”

Increasing production capacity
Hankook’s Tennessee plant is located off International Boulevard, in the southern portion of the Corporate Business Park. Operating wight production sites in five countries around the world, including the United States, Hungary, Indonesia, China and Korea, Hankook Tire currently has an annual global production capacity of about 100 million units. Through the expansion of the Tennessee plant, the company is expected to increase its production capacity to about 106.5 million units in total.  

 





   

Comments (0)

ADD COMMENT

    Lamborghini Huracán STO to run on Bridgestone tyres

    Lamborghini Huracán STO to run on Bridgestone tyres

    Bridgestone will supply tailored-made tyres for Lamborghini’s Huracán STO, which will be launched in 2021.

    Bridgestone ensured the high-performance tyre can maximise the Huracán STO’s traction, handling, control, and extreme overall performance.

    Key to the tyre’s success in maximising the super sports car’s performance is the combination of pattern and cavity design. The Potenza tyres apply an asymmetric tread design for enhanced steering response and cornering stability, and an internal crown structure that distributes footprint pressure evenly when cornering.

    As well as the road-focused, custom-developed Potenza fitment, Bridgestone will also be providing a track-oriented, road-homologated version of the tyre that applies “race” technologies to maximise the vehicle’s track performance, especially in dry conditions.


    Steven De Bock, VP Consumer Replacement and OE at Bridgestone EMIA, said, “It’s been a pleasure for our team to work so closely with Lamborghini for the first time, and on such an exciting project. The Huracán STO is an incredible piece of engineering that deserves a custom tyre that can fulfill its full potential. I can proudly say that Bridgestone has delivered such a high-performance tyre. It has been fantastic for the team to have worked on a project that is at the forefront of technology in so many ways.”

    Comments (0)

    ADD COMMENT

      Hankook Starts Operations At New Testing Facility In Spain

      Hankook Starts Operations At New Testing Facility In Spain

      Hankook, one of the major global tyre brands, has started testing and development operations at its new ultra modern facility in Spain.

      The testing facility has been set up on the premises of the Applus+ IDIADA Group and can also cater to European premium car manufacturers that have their own demanding tyre tests. The facility is completely automated and will host a 20-member team from the Spanish testing centre, which is affiliated to the Hankook Europe Technical Centre.

      Klaus Krause, Head of European Research and Development Centre, said, "With the further expansion of our testing capacities in Spain, we are reaching the next level together with our local partner Applus+ IDIADA."

      He also added, "We are confident that the newly installed testing facilities in particular will significantly improve our efforts to provide the best tyre testing conditions and services to our employees and customers. In addition, we will also be able to conduct significantly more tests on site." (TT)

      Comments (0)

      ADD COMMENT

        New Innovative Construction Tyre from ASCENSO

        New Innovative Construction Tyre from ASCENSO

        ASCENSO introduced a construction tyre - BLB 730- which is used for boom lift vehicles used in construction and other industries. It comes with several features that cater to the unique needs of aerial lifting equipment.

        The BLB 730 tyre is available in different sizes to fit various boom lift vehicles. This range of sizes provides versatility and compatibility with different types of aerial lift work platforms.

        ASCENSO's BLB 730 tyre is a significant advancement in specialised equipment for the construction industry. It focuses on load capacity, stability, traction, and durability to improve the performance and safety of boom lift vehicles. Whether working at heights or manoeuvring on tough terrains, this tyre offers reliability and durability for efficient operations,” said the company in a statement.

        The BLB 730 tyre is built to handle heavy loads and stabilise boom lift vehicles. It has solid lugs and a more extended shoulder design, which ensures good traction and prevents slipping during operation. This is important for safely carrying heavy weights at high elevations. ASCENSO has used a special rubber compound in making the BLB 730 tyre, making it durable and long-lasting, resulting in less downtime and more productivity on construction sites.

        To make the tyre even better, the company has optimised its inner volume to reduce tyre fill consumption, reducing the risk of tyre punctures, minimising the need for maintenance, and keep the vehicles running smoothly.

        Comments (0)

        ADD COMMENT

          Falken Named Official Partner Of Men’s IHF World Handball Championships 2023

          Shin-Etsu Chemical To Invest New $ 702 million In Silicones Portfolio

          Falken Tyre Europe is an official IHF Men's World Championship 2023 partner for the upcoming tournament, the company has announced. The tournament is taking place at nine venues in Sweden and Poland from 11-29 January, 2023. Falken Tyre claims that the partnership was organised by the sports marketing agency SPORTFIVE. SPORTFIVE is responsible for exclusive marketing and media rights for all IHF World Championships until 2031.

          Falken Tyre claims that this is its second agreement with the International Handball Federation. In addition to title and logo rights (Official IHF Men's World Championship 2023 Partner), the company has also secured advertising rights, including the Falken logo in each goal and centre circle of the courts, as well as the presence of Falken branding in the official tournament social media communications and print materials. According to Falken Tyre, this is complemented by 30-second video ads that will be shown on the big screens in the nine sports halls before the start of each match and at half-time.

          Sharing his views, Robert Müller von Vultejus, Chief Growth Officer at SPORTFIVE, said, “With Falken, the IHF World Handball Championships have secured a great partner who is positioned with far-reaching influence in the relevant core markets. We are delighted to have been able to bring two global partners together for one of the most exciting sporting events of next year.”

          Markus Bögner, COO and President of Falken Tyre Europe GmbH, explained, “Handball isn’t just of great importance in Europe, but all over the world, which has led us to partake in this top-level tournament once again. The fact that the international tournament is taking place in countries that are among our core markets is another great reason for our involvement. We can also look back on a long partnership with our colleagues at SPORTFIVE, who always offers us excellent opportunities that are an excellent fit for the Falken brand, which stands for enthusiasm, performance and achievement.”

          Comments (0)

          ADD COMMENT