Hankook tops $1 billion in sales in the US

ERJ staff report (RPN)

By Rubber & Plastics News staff

Wayne, New Jersey -- Hankook Tire Co. Ltd's sales in the US will exceed $1 billion this year, an achievement management chalked up to “industry-leading” product lines and technology, dedicated customers and investment in research and development.

Hankook Tire America Corp. President Soo Il Lee called reaching the milestone in the company's 30th year of doing business in the U.S. a “testament to our collective efforts in all facets of our business, from product development to sales and marketing.”

Lee said Hankook continues to “see many opportunities to build on this success and look forward to achieving even greater results in 2012.” Sales could grow as much as 20 percent next year, Hankook said.

Hankook continues to build its brand awareness in the US through sports marketing tie-ins in baseball and basketball, through a growing OE presence, through a comprehensive advertising/promotion campaign (“Be One With It”) and through an increasingly broadening product portfolio, the company said.

Seoul, South Korea-based Hankook did not say how much sales grew this year vs. 2010, when the firm's combined sales in the US and Canada exceeded $1 billion. Those sales, in turn, were 21 percent ahead of 2009.

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Article from Rubber & Plastics News, a Crain publication