SEOUL, South Korea (Feb. 1, 2010) — Hankook Tire Co. Ltd is investing $82 million this year at its plant in Jiaxing, China, to boost capacity for car and light truck tires by 2.1 million units.
The increase at Hankook Tire Jiaxing Co. Ltd.'s will increase the 12-year-old plant's annual capacity about 7 percent to 30 million tires by next year.
Hankook did not comment on the reasons for the project nor on its effect on employment.
The Jiaxing plant is one of two Hankook operates in China. The other, Jiangsu Hankook Tire Co. Ltd. in Huaian, Jingsu Province, is a joint venture with China's Jiangsu Qingtjiang Rubber Co. Ltd. that makes car, light truck, medium truck and industrial tires.