VW deal pushes Hankook export sales to $150 million

Feb. 13, 2006

Hankook Tire's recently announced supply deal with Volkswagen pushes the South Korean company's shipments to overseas vehicle manufacturers to nearly $150 million.

Hankook officials say that figure could grow even more "if deals are landed for high-end Volkswagon models and new projects of leading manufacturers."

Hankook is supplying some 400,000 ultra-high performance tires for the new VW Golf, plus an additional 100,000 passenger tires for the VW Bora, a notchback version of the Golf.

"The fact we are supplying a main standard product for the best-selling model in Europe implies that we have crossed the threshold into the European market, which is known for its stringent requirements on technology and quality," says Hankook Tire CEO Cho Choong-Hwan.

"On top of a stable demand base, we can look forward to increasing supply to the original equipment and replacement markets in Europe."