Skip to main content
Sister Publication Links
  • Rubber News
  • European Rubber Journal
Subscribe
  • Login
  • Register
  • Subscribe
  • Current Issue
  • BEST PLACES TO WORK
  • News
    • HUMANITARIAN
    • TIRE MAKERS
    • COMMERCIAL TIRE
    • GOVERNMENT & LAW
    • MERGERS & ACQUISITIONS
    • OBITUARIES
    • OPINION
    • MID YEAR REPORT
    • SERVICE ZONE
  • ADAS
  • Data
    • DATA STORE
  • Custom
    • SPONSORED CONTENT
  • Resources
    • Events
    • DIRECTORY
    • CLASSIFIEDS
    • SHOP FLOOR
    • AWARDS
    • ASK THE EXPERT
    • LIVESTREAMS
    • WEBINARS
    • SEMA LIVESTREAMS
    • RUBBER NEWS EVENTS
    • BALANCING
    • DEMOUNTING
    • SAFETY
    • TIRE REPAIR
    • TPMS
    • TRAINING
    • VEHICLE LIFTING
    • WHEEL TORQUE
    • Best Places to Work
  • ADVERTISE
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. News
December 18, 2014 01:00 AM

Hankook sees synergies in HVCC deal (Update)

Tire Business staff
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    SEOUL, South Korea (Dec. 18, 2014) — Hankook Tire Co. Ltd. expects its decision to invest in Halla Visteon Climate Control Corp. (HVCC) to generate “synergistic opportunities” that will contribute to the tire maker's “continued commitment” to growth, the company said in a prepared statement.

    Halla Visteon's majority owner Visteon Corp. disclosed Dec. 17 that Hankook and Korean equity investment firm Hahn & Co. have agreed to buy Visteon's 70-percent stake in HVCC for about $3.6 billion.

    The agreement calls for Hahn & Co. to own a 50.5-percent stake in HVCC and Hankook a 19.49-percent share, which would value Hankook's investment at about $100 million.

    In its statement, Hankook said it based its decision to invest in HVCC on the supplier's “stable operating and financial performance” and its global portfolio in the auto industry.

    “This significant investment demonstrates Hankook Tire's continued commitment to growth and to increase its competitiveness worldwide,” said Seung Hwa Suh, vice chairman and CEO of Hankook Tire.

    “We expect to further contribute to global auto makers with combined market position and fostering strong synergy.”

    HVCC is described as a full-line supplier of automotive thermal management solutions. Its products include heating ventilation and air conditioning; compressors; powertrain cooling; fluid transport; and electric, hybrid and fuel-cell vehicle thermal systems.

    The company maintains 36 manufacturing sites and four global technical centers in 19 countries; employment is about 15,500.

    Related Articles
    Hankook invests in Korean auto supplier
    Letter
    to the
    Editor

    Do you have an opinion about this story? Do you have some thoughts you'd like to share with our readers? Tire Business would love to hear from you. Email your letter to Editor Don Detore at [email protected].

    Most Popular
    1
    Ice Blazer WSTX winter tire newest Sailun innovation
    2
    Canada Tire invests in WeeL vehicle service startup
    3
    Goodyear expands OTR tire lineup with 'Powerload'
    4
    Pirelli eyes extending Formula 1, 2, 3 racing contract
    5
    Hankook halts production at fire-damaged Korean tire plant
    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Newsletter Center

    Staying current is easy with Tire Business delivered straight to your inbox.

    SUBSCRIBE TODAY

    Subscribe to Tire Business

    SUBSCRIBE
    Connect with Us
    • Facebook
    • LinkedIn
    • Twitter
    • Instagram
    • RSS

    Our Mission

    Tire Business is an award-winning publication dedicated to providing the latest news, data and insights into the tire and automotive service industries.

    Reader Services
    • Staff
    • About Us
    • Site Map
    • Industry Sites
    • Order Reprints
    • Customer Service: 877-320-1716
    Partner Sites
    • Rubber News
    • European Rubber Journal
    • Automotive News
    • Plastics News
    • Urethanes Technology
    RESOURCES
    • Advertise
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Media Guide
    • Editorial Calendar
    • Classified Rates
    • Digital Edition
    • Careers
    • Ad Choices Ad Choices
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • BEST PLACES TO WORK
    • News
      • HUMANITARIAN
      • TIRE MAKERS
      • COMMERCIAL TIRE
      • GOVERNMENT & LAW
      • MERGERS & ACQUISITIONS
      • OBITUARIES
      • OPINION
      • MID YEAR REPORT
      • SERVICE ZONE
    • ADAS
    • Data
      • DATA STORE
    • Custom
      • SPONSORED CONTENT
    • Resources
      • Events
        • ASK THE EXPERT
        • LIVESTREAMS
        • WEBINARS
        • SEMA LIVESTREAMS
        • RUBBER NEWS EVENTS
      • DIRECTORY
      • CLASSIFIEDS
      • SHOP FLOOR
        • BALANCING
        • DEMOUNTING
        • SAFETY
        • TIRE REPAIR
        • TPMS
        • TRAINING
        • VEHICLE LIFTING
        • WHEEL TORQUE
      • AWARDS
        • Best Places to Work
    • ADVERTISE
    • DIGITAL EDITION