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July 05, 2018 12:00 AM

Hankook acquiring Germany distributor Reifen-Mueller

Shahrzad Pourriahi
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    Seoul – Hankook Tire is buying 100% shares of German independent tire distributor Reifen-Mueller in a bid to strengthen its global distribution system.

    The South Korean company announced 4 July that the acquisition will include Reifen-Mueller’s sales distribution affiliate company, ‘Reifen-Mueller KG’, as well its retreading business ‘Reifen-Mueller GmbH & Co. Runderneuerungswerk KG’.

    The transaction amount was not disclosed.

    Reifen-Mueller is a leading German tire distributor and was founded in 1966.

    The company currently has 44 service centres with 700 employees.

    Reifen-Mueller offers a range tires, from passenger car, and light truck to heavy truck and bus tire segments as well as motorcycle and agricultural tires.

    Post-acquisition, the current owners and the acting management of Reifen Mueller will continue to serve as group management of the company.

    Hankook said it would leverage Reifen-Mueller’s service centres to expand its business and solidify its distribution networks.

    Reifen-Mueller will continue to sell global multi-brands along with Hankook, in order to maintain the “customer-oriented distribution system”.

    Hankook also noted that it would continue its growth strategy “by building large scale manufacturing plants and R&D centres and establishing innovative distribution networks.”

    The company also said that it would engage in M&A investments.

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