Current Issue
×

Top Stories

Title Issue Date Category Formats Records Price
Polyurethane-filled holes improve Wilson's swing
View Description View Full Details
CHICAGO—Polyurethane is at the heart of the latest generation of Wilson's Distance D300 irons.The new golf clubs incorporate Power Holes, which are through-holes that surround the club's...
View Full Details »
CHICAGO—Polyurethane is at the heart of the latest generation of Wilson's Distance D300 irons. CHICAGO—Polyurethane is at the heart of the latest generation of Wilson's Distance D300 irons. $CHICAGO—Polyurethane is at the heart of the latest generation of Wilson's Distance D300 irons.
Editorial: Two deals show medical to remain a hot business area
View Description View Full Details
As the rubber industry entered into the new year, it’s clear that the medical industry will remain one of great activity. That was exemplified by two acquisitions closed late in 2016 where...
View Full Details »
As the rubber industry entered into the new year, it's clear that the medical industry will remain one of great activity. As the rubber industry entered into the new year, it's clear that the medical industry will remain one of great activity. $As the rubber industry entered into the new year, it's clear that the medical industry will remain one of great activity.
Withdrawal from NAFTA would cost U.S. jobs, study finds
View Description View Full Details
DETROIT— President-elect Donald Trump's vows to renegotiate the North American Free Trade Agreement (NAFTA) and pursue more protectionist trade policies likely would have a negative effect...
View Full Details »
DETROIT— President-elect Donald Trump's vows to renegotiate the North American Free Trade Agreement and pursue more protectionist trade policies likely would have a negative effect on the U.S. auto industry, a new study reveals. DETROIT— President-elect Donald Trump's vows to renegotiate the North American Free Trade Agreement and pursue more protectionist trade policies likely would have a negative effect on the U.S. auto industry, a new study reveals. $DETROIT— President-elect Donald Trump's vows to renegotiate the North American Free Trade Agreement and pursue more protectionist trade policies likely would have a negative effect on the U.S. auto industry, a new study reveals.
Semperit, Sri Trang demerge Thai gloves JV
View Description View Full Details
VIENNA—Austrian rubber company Semperit A.G. and its Thai partner Sri Trang Angro-Industry P.L.C. have agreed to demerge their Siam Sempermed rubber gloves joint venture, following a series...
View Full Details »
VIENNA—Austrian rubber company Semperit and its Thai partner Sri Trang have agreed to demerge their Siam Sempermed rubber gloves joint venture, following a series of legal disputes between the partners. VIENNA—Austrian rubber company Semperit and its Thai partner Sri Trang have agreed to demerge their Siam Sempermed rubber gloves joint venture, following a series of legal disputes between the partners. $VIENNA—Austrian rubber company Semperit and its Thai partner Sri Trang have agreed to demerge their Siam Sempermed rubber gloves joint venture, following a series of legal disputes between the partners.
Nexen, Toyota Tsusho establish sales JV
View Description View Full Details
TOKYO—Nexen Tire Corp. has established a sales subsidiary in Japan to handle its growing replacement tire business there, and to reinforce its OE supply relationships with Japanese...
View Full Details »
TOKYO—Nexen has established a sales subsidiary in Japan to handle its growing replacement tire business there, and to reinforce its OE supply relationships with Japanese automobile manufacturers. TOKYO—Nexen has established a sales subsidiary in Japan to handle its growing replacement tire business there, and to reinforce its OE supply relationships with Japanese automobile manufacturers. $TOKYO—Nexen has established a sales subsidiary in Japan to handle its growing replacement tire business there, and to reinforce its OE supply relationships with Japanese automobile manufacturers.
Kanodia sentenced for Cooper-Apollo insider trading scheme
View Description View Full Details
BOSTON—A Brookline, Mass.-based entrepreneur and private equity investor has been sentenced to 20 months in prison for initiating an insider trading scheme in connection with the failed...
View Full Details »
BOSTON—A Brookline, Mass.-based entrepreneur and private equity investor has been sentenced to 20 months in prison for initiating an insider trading scheme in connection with the failed acquisition of Cooper Tire by Apollo Tyres. BOSTON—A Brookline, Mass.-based entrepreneur and private equity investor has been sentenced to 20 months in prison for initiating an insider trading scheme in connection with the failed acquisition of Cooper Tire by Apollo Tyres. $BOSTON—A Brookline, Mass.-based entrepreneur and private equity investor has been sentenced to 20 months in prison for initiating an insider trading scheme in connection with the failed acquisition of Cooper Tire by Apollo Tyres.
Wacker to add fumed silica plant at Tennessee campus
View Description View Full Details
CHARLESTON, Tenn.—Wacker Chemie A.G. intends to invest $150 million to establish a new pyrogenic silica facility on the same site as its existing plant in Charleston. Construction is...
View Full Details »
CHARLESTON, Tenn.—Wacker intends to invest $150 million to establish a new pyrogenic silica facility on the same site as its existing plant in Charleston. CHARLESTON, Tenn.—Wacker intends to invest $150 million to establish a new pyrogenic silica facility on the same site as its existing plant in Charleston. $CHARLESTON, Tenn.—Wacker intends to invest $150 million to establish a new pyrogenic silica facility on the same site as its existing plant in Charleston.
Thailand building auto test center to support tire, NR sectors
View Description View Full Details
BANGKOK—The Thailand Board of Investment plans to invest $100 million to build an automotive testing center that the government views as a "top priority" for supporting the nation's growing ...
View Full Details »
BANGKOK—The Thailand Board of Investment plans to invest $100 million to build an automotive testing center that the government views as a "top priority" for supporting the nation's growing tire and natural rubber industries. BANGKOK—The Thailand Board of Investment plans to invest $100 million to build an automotive testing center that the government views as a "top priority" for supporting the nation's growing tire and natural rubber industries. $BANGKOK—The Thailand Board of Investment plans to invest $100 million to build an automotive testing center that the government views as a "top priority" for supporting the nation's growing tire and natural rubber industries.
Nexteer, Continental to form joint venture
View Description View Full Details
DETROIT—Nexteer Automotive Corp. and Continental Automotive Systems Inc. will form a joint venture to supply safety systems for autonomous cars.In an announcement Tuesday at the North...
View Full Details »
DETROIT—Nexteer and Continental Automotive Systems will form a joint venture to supply safety systems for autonomous cars. DETROIT—Nexteer and Continental Automotive Systems will form a joint venture to supply safety systems for autonomous cars. $DETROIT—Nexteer and Continental Automotive Systems will form a joint venture to supply safety systems for autonomous cars.
Toyo plans North American expansion
View Description View Full Details
WHITE, Ga.—Toyo Tire & Rubber Co. Ltd. plans to expand its North American research and development center, setting up a dedicated business development unit for the market. The firm, in...
View Full Details »
WHITE, Ga.—Toyo Tire plans to expand its North American research and development center, setting up a dedicated business development unit for the market. WHITE, Ga.—Toyo Tire plans to expand its North American research and development center, setting up a dedicated business development unit for the market. $WHITE, Ga.—Toyo Tire plans to expand its North American research and development center, setting up a dedicated business development unit for the market.
Digital Edition
Digital Edition
Published on September 5, 2005

Product launches help spur sales growth for Hankook

Have a question? Need some help?
Click here to view the FAQ

Tags

Date Published September 5, 2005
Category

Hankook Tire America Corp. boosted sales last year by nearly a third over 2003 and shows no signs of slowing down.

The Wayne-based marketing and distribution subsidiary of South Korea's Hankook Tire Co. Ltd. said many factors influenced its 28.9-percent surge in North American sales last year to $459.7 million. The firm said many of its activities this year revolve around building upon that success even further.

Successful product launches of ultra-high-performance tires in the past 18 months and a brand awareness program that incorporates sports marketing have had a positive impact on sales, according to Hankook Marketing Director Bill Bainbridge.

``There's so many good things in place, that starts with the product and the potential of what we can do,'' he said. ``We're just really over the last couple years beginning to realize that. It's an exciting place to be right now.''

Bainbridge said Hankook's tires are proving themselves as good deals for consumers while at the same time giving dealers higher margins.

``A majority of the growth that we've been enjoying has been developing more business with existing dealers,'' he said. ``The key to our growth right now is, as dealers get comfortable and have some success with a Hankook line, they add another Hankook line and another. The snowball keeps getting bigger and bigger.''

Dealers also have recognized and capitalized on Hankook's brand building through signage at sports arenas and at Major League Baseball games in particular, Bainbridge said. Consumers have recognized the Hankook name at the point-of-sale through the sports association, which has been powerful, he added.

Demand for Hankook products is taking all of the company's output, Bainbridge said, despite the fact that parent firm Hankook Tire has added capacity at its two plants in China. The parent is producing about 60 million units at its Chinese and two South Korean facilities, but Hankook also is negotiating with Eastern European nations to build another factory-its first outside of Asia, Bainbridge said.

Slovakia and Poland are two potential sites, but the tire maker has declined to comment until negotiations are complete.

To keep dealers supplied, Hankook Tire America earlier this year opened a 312,000-sq.-ft. distribution center in Portland, Tenn., and is adding 200,000 square feet there by September. Also, Hankook is adding 100,000 square feet of warehouse space in Los Angeles and Dallas by August and 50,000 square feet in Edison, N.J., by November. New distribution software also was added to help increase efficiency.

``We recognize that after you have a good product, the ability to supply is awfully important, particularly with our company with such a diverse dealer base of retailers and wholesalers,'' Bainbridge said.

He said distribution system improvement has been Hankook Tire America President J.W. Choi's personal ``pet project.''