Hankook's global sales push through KRW 5 trillion

ERJ staff report (DS)

Seoul, Korea -- Hankook Tire reported global sales of KRW 5.4 trillion (euro 3.5 billion) and an operating profit of KRW 585.8 billion (Euro 383.3 million) for the 12 months to 31 December 2010. The figures represent new records and show sales growth of 11.5 percent and profit growth of 6.7 percent.

Key drivers, said Hankook, were surging sales in the emerging markets, steady growth in Hankook's strategic markets in North America, Europe and Asia Pacific, and the increasing demand for Hankook Tire's Ultra High Performance (UHP) tyres. The overall global sales of UHP tyres marked a 42.2 percent increase over last year's sales. Sales in Latin America and the CIS region rose 64.7 precent and 49.7 percent respectively. In addition to the success in the emerging markets,

For 2011 Hankook Tire aims to achieve global sales of KRW 6.06 trillion.

Hankook said factories its in Europe, Korea and China all operated at one hundred percent capacity in 2010, achieving maximum productivity and unprecedented figures for fiscal year 2010.

Hankook Tire's UHP tyre supply to automakers jumped 80.7 percent in Korea and 57.3 percent in China from last year. Additionally, Hankook Tire has been expanding its global OE portfolio to leading automobile manufacturers due to its increased brand value and global customers' trust on Hankook's superb quality.

Mr. Seung Hwa Suh, Vice Chairman & CEO of Hankook Tire said, “2010 was the cornerstone of a new era for Hankook Tire, as we achieved record performance and set new plans for further growth, including the expansion of Hankook's production capacity with new plants in Indonesia and China.” Mr. Suh added, “In 2011 as we celebrate our 70th anniversary, Hankook's priorities are to build a sustainable and creative corporate culture as well as to further initiate environment-friendly approaches as a leading global tyre company.

This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.

Press release from Hankook