Hankook buys Australian tire distributor

Seoul – Hankook Tire is acquiring 100% of JAX Tyres shares which it described as Australia’s largest tire retailer.

In a 1 Feb statement, the South Korean company said through the acquisition it planned to “expand customer relationships and strengthening its competitiveness in the B2C distribution sector as a mainstay of new business.”

Hankook said it would leverage JAX’s distribution system to expand its growth model “”not only from the hardware-oriented business such as a plant establishment but also the software’s growth including distribution channels and premium…

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