Hankook boosts output in China SEOUL, South Korea—With the recent commissioning of production at its two updated Chinese tire factories, South Korea's Hankook Tire Co. Ltd. is on its way to becoming China's largest tire maker.
During the fourth quarter, Hankook completed the first phase of revision and expansion at its joint-venture plants in Jiaxing (radial passenger tires and tubes) and Jiangsu (radial passenger, radial and bias-ply light-truck and bias medium-truck tires), yielding annual production capacity of 4.25 million tires, large enough to qualify Hankook as China's third-largest tire maker now.
Hankook invested $212 million over 18 months to modernize and expand the two plants, which it took under its wing as joint ventures in 1996. The company plans to continue expanding the plants through 2002, when combined annual production should reach 11.3 million tires and 4.5 million inner tubes.
Hankook officials eye a 10-percent market share in China by early in the next century. The company recently secured an original equipment contract with China's largest car maker.
Retread summit moves to Berlin
BIRMINGHAM, England—This year's interTREAD Summit for retreaders and casings/used-tire dealers will be held April 28-30 in Berlin, concurrently with the International Tyre Treaders Summit, which caters to major buyers and sellers of new tires.
InterTREAD had been held in California in late October, shortly before Automotive Aftermarket Industry Week in Las Vegas. Organizers said the move was in response to requests from traders who wanted to make contacts in both the retread/used-tire and new-tire markets.
For more information, phone 44-1564-70-3993. E-mail: [email protected] tyretraderssummit.com.