Skip to main content
Sister Publication Links
  • European Rubber Journal
  • Plastics News
  • Tire Business
Subscribe
  • Login
  • Register
  • Subscribe
  • News
    • Automotive
    • Tire
    • Non-Tire
    • Suppliers
    • ITEC
    • Silicone
    • Online Exclusive
    • Latex
    • Technical Notebooks
    • Executive Action
    • Government/Legal
    • Opinion
    • Rubber Division IEC
    • Blogs
    • Sustainability
    • Products
    • Wacky World of Rubber
  • War in Ukraine
  • Custom
    • Sponsored Content
    • White Papers
  • Resources
    • Directory
    • Classifieds & Mold Mart
  • Data
  • Events
    • RN Events
    • RN Livestreams/Webinars
    • Industry Events
    • Past Events
    • Rubber News M&A Live
    • 2022 Hose & Belt Manufacturers Conference
    • 2022 International Silicone Conference
    • 2022 International Tire Exhibition & Conference (ITEC)
    • 2022 Women Breaking the Mold
  • Advertise
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. Tire
October 04, 2019 02:25 PM

Hankook shelves European truck, bus tire expansion

Shahrzad Pourriahi
European Rubber Journal
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    NEU-ISENBURG, Germany—Hankook Tire & Technology Co. Ltd. has postponed plans to establish a $318 million truck and bus tire manufacturing facility at its site in Racalmas, Hungary.

    The project, announced in March 2018, involved a new production unit for medium and heavy TBRs, with the capacity of 550,000 units per year. The postponement does "not mean the cancellation of that plan," Hankook said in a written statement Oct. 2.

    The current economic downturn, especially in the automotive industry, was a factor behind the decision, said Felix Kinzer, head of communications at Hankook Tire Europe. The tire maker, he added, is undergoing "mediations" with various stakeholders for future execution of the plan, which would mark the site's fourth round of expansion.

    "Our company has a mid- to long-term plan for truck tire sales growth on the European continent and is reviewing various options," Kinzer said. This, he added, "consequently leads to further reviews of all investments, especially of such with a very long-term perspective."

    New technology trends, such as Industry 4.0, also are influencing investment decisions, the Hankook communications leader further pointed out.

    "We want to make sure that the right decision with our investments is made to give the best results for all our stakeholders," Kinzer said.

    In recent years, Hankook has won OE supply agreements with leading truck and bus brands, including Mercedes-Benz and trailer maker Schmitz Cargobull.

    The company is supplying the European truck tire market mainly from one of its Korean factories.

    Letter
    to the
    Editor

    Rubber News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].

    Most Popular
    1
    Danfoss Power Solutions, former Eaton Hydraulics see success a year after purchase
    2
    Trelleborg sails into 'known waters' with Minnesota Rubber, Plastics acquisition
    3
    Inventory, microchips impacting 2022 auto sales, EV rollouts
    4
    Former Sibur CEO: Sanctions stunt global SR industry
    5
    Hexpol Silicones nearly triples space with move to Akron facility
    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Get our newsletters

    Staying current is easy with Rubber News delivered straight to your inbox, free of charge.

    Subscribe Today

    Subscribe to Rubber News to get the best coverage and leading insights in the industry.

    SUBSCRIBE
    Connect with Us
    • LinkedIn
    • Facebook
    • Twitter

    MISSION

    To serve companies in the global rubber product industry by delivering news, industry insights, opinions and technical information.

    Contact Us

    2291 Riverfront Pkwy, Suite 1000
    Cuyahoga Falls,
    OH 44221

    Customer Service:
    877-320-1726

    Resources
    • About Us
    • Digital Edition
    • Staff
    • Advertise
    • Order Reprints
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Careers
    • Ad Choices Ad Choices
    • Sitemap
    Partner Sites
    • Tire Business
    • European Rubber Journal
    • Plastics News
    • Plastics News China
    • Urethanes Technology
    • Automotive News
    • Crain Brands
    Copyright © 1996-2022. Crain Communications, Inc. All Rights Reserved.
    • News
      • Automotive
      • Tire
      • Non-Tire
      • Suppliers
      • ITEC
      • Silicone
      • Online Exclusive
      • Latex
      • Technical Notebooks
      • Executive Action
      • Government/Legal
      • Opinion
      • Rubber Division IEC
      • Blogs
        • Products
        • Wacky World of Rubber
      • Sustainability
    • War in Ukraine
    • Custom
      • Sponsored Content
      • White Papers
    • Resources
      • Directory
      • Classifieds & Mold Mart
    • Data
    • Events
      • RN Events
        • 2022 Hose & Belt Manufacturers Conference
        • 2022 International Silicone Conference
        • 2022 International Tire Exhibition & Conference (ITEC)
        • 2022 Women Breaking the Mold
      • RN Livestreams/Webinars
      • Industry Events
      • Past Events
      • Rubber News M&A Live
    • Advertise
    • DIGITAL EDITION