LEVERKUSEN, Germany (June 29, 2009)—Rubber and chemicals supplier Lanxess A.G. and South Korean tire maker Hankook Tire Co. Ltd. have signed a five-year supply agreement, the companies announced.
Under the pact, Lanxess will supply “large volumes” of butyl rubber to Hankook from 2010 to 2014. It the second long-term supply agreement signed between the two companies. In 2007, both companies entered into a five-year contract for the supply of styrene butadiene rubber and polybutadiene rubber.
Ron Commander, global head of Lanxess' Butyl Rubber business unit, said the deal will “further strengthen the already successful cooperation” between the two firms. The agreement secures a stable, long-term supply of butyl rubber for Hankook, said Jeong Ho Park, vice president of global purchasing, adding he expects the business to grow in the future for both parties.