SEOUL, South Korea (Jan. 16, 2004) — Hankook Tire Co. Ltd. has secured a five-year contract to supply light truck tires to Ford Motor Co. for the car maker's full-size E-series 350 van, according to information posted on the firm's Web site.
The contract, valued at $90 million by Asian financial analysts, covers the delivery of 380,000 RH03 light truck tires annually, starting immediately.
Ford lists the following fitment sizes for the 350 van series: LT225/75R16 and LT245/75R16. The E-series also is known as the Econoline. Ford made 178,363 E-series vans in 2003, according to data from Automotive News.
The deal represents Hankook's third significant OE supply contract with Ford in the past year. In June Ford awarded Hankook a five-year contract to supply up to 550,000 P-metric light truck tires annually for its new F-150 pickup truck. In March Hankook took over a supply contract for temporary spare tires for Ford's Escape sport-utility vehicle.