SEOUL, Korea—Hankook Tire Co. Ltd. signed a second memorandum of understanding with Arlanxeo, a global synthetic rubber producer, to co-develop synthetic rubber technologies for high-performance tires.
Arlanxeo, a joint venture between Lanxess A.G. and Saudi Aramco, and Hankook will co-develop synthetic rubber technologies for high-performance tires, according to a Hankook release. Under the agreement, the companies will work together to study development of new synthetic rubber grades and applications, with a focus on increasing tire performance.
The companies began their partnership in 2008 with a supply of raw materials, and signed the first MOU in 2014 to collaborate on the development of core synthetic rubber solutions for tires.
The new agreement part of Hankook's strategy to accelerate the company's technological prowess, coupled with the company's investment in Hankook Technodome, a research and development center in Korea, according to the release.
The new agreement strengthens the cooperation between the two companies, Arlanxeo CEO Jorge Nogueira said in the release.