Kumho announces 2002 results, sets 2003 sales goal
Kumho Tire U.S.A. Inc.'s 2002 sales totaled $327 million, a $110 million increase from 2001.
During 2002, Kumho's passenger tire business increased by 40%, according to Kumho officials; its light truck tire business jumped 15% and its medium truck radial tire business grew 31%.
The company is targeting $333 million in sales for 2003.
This year, Kumho will introduce new products "in the more premium segment," says Dave Hudrlik, Kumho vice president of sales, and will add sizes to a number of existing lines.
It also will open a 100,000-square-foot warehouse in Chicago, Ill., in April. "We needed one more distribution center in the Midwest."
And the company will concentrate on working with its existing dealer network rather than "seeking excessive new distribution in the U.S," says Hudrlik.