NASHVILLE, Tenn.—Hankook Tire America Corp. and its customers have more than a billion-and-and-half reasons to celebrate today.
The board of directors at Hankook Tire & Technology Co. Ltd. has approved a $1.6 billion expansion at the Hankook plant in Clarksville, Tenn., that eventually will:
- Double capacity for passenger and light truck tires to 11 million units per year in Phase II of the expansion;
- Establish radial truck/bus (TBR) tire manufacturing capacity at the facility in Phase III; and
- Add 1,200 new jobs to the Clarksville region when both phases are complete.
The expansion means Hankook will be able to manufacture 1 million TBR tires annually, meaning the plant eventually will manufacture 12 million units in the U.S.
The expansion will bring the total investment in the plant to $2.2 billion since the parent company first approved the investment to build the plant in Clarksville, a city of 150,000-plus residents in north-central Tennessee.
Hankook said the will expansion will "further provide tire dealers and consumers with high-quality tires and industry-leading services to meet the demands of the American market, while supporting existing and future original Equipment (OE) partners."