Hankook looks for double digit growth next year

Oct. 16, 2007

Hankook Tire Co. Ltd. says increased high performance tire sales will help it achieve double digit growth in 2008. Hankook is investing $225 million in its ultra-high performance tire manufacturing plant in Geumsan, South Korea, to boost UHP tire production there by an additional five million units per year.

In addition, Hankook has opened a wet proving ground facility in Geumsan "that will allow for greater and more complete on-site testing capabilities, particularly for UHP tires and innovative new product lines for export to all markets," according to company officials.

"Tighter integration between testing, development and production will reduce new product development timelines."

Hankook also is exploring the long-term lease of a wet proving grounds in Spain.