Hankook to Invest $1 Billion in Tennessee Plant
Hankook Tire America Corp. is investing $1 billion in its plant in Clarksville, Tenn., to boost the facility’s annual capacity to up to five million passenger and light truck tire units.
“The ratio” between passenger and light truck tires “has not yet been decided, but we will set it to meet the U.S. market,” according to Hankook officials.
The plant’s first phase “has already been completed and allows for approximately five million in annual capacity.”
Phase two’s investment “will be executed sequentially, according to the construction schedule.”
After completion of phase two, the plant will have an overall capacity of 10 million units per year.
“We have shifted a substantial volume of production to our Tennessee plant, but this is not just in response to pending import duties.”
“This was part of Hankook’s strategy to diversify production and create an optimal production facility by reestablishing manpower lines, equipment adjustments, etc. Additionally, when deciding to build our North American plant, the construction of a phase two facility was always planned for.”
Hankook’s Clarksville, Tenn., plant opened in 2016.