Hankook Tire and Hamann Motorsport Agree To Worldwide Technology Partnership
Frankfurt, September 2005 - With a new technology partner from Germany, Hankook Tire is set to blaze a trail in the market for high-performance tires.
Renowned automotive refiner Hamann Motorsport has entered a world-wide cooperation with the tire maker, and Hankook Tire will now be Hamann Motorsport’s exclusive technology partner. The focal point of this cooperation will be the joint development of new tire sizes for both summer and winter tires.
Hankook Tire, one of the world’s leading tire makers, and the internationally experienced automotive refiner Hamann Motorsport will also join forces in the marketing of their technology partnership.
The partnership between the two companies was sealed in May of this year. The keynote of this cooperation is the joint development of new tire sizes, on which Hamann Motorsport is collaborating with Hankook’s Europe Technical Center in Langenhagen near Hanover and the company’s international Research and Development center in Korea.
As Hamann Motorsport’s exclusive technology partner Hankook Tire aims to strengthen its market position in the high-performance tire segment.
This year’s Frankfurt Motor Show, the IAA, offers a foretaste of the partnership’s results: Hankook has developed a new 255/30 R 21 sized high-performance Ventus S1 evo tire for the world premiere of the Hamann BMW M5. Hamann’s other two world premieres at the IAA - the BMW 7 series facelift and the Hamann F430 - are also equipped with the Hankook tire family’s flagship Ventus S1 evo. In all, eleven models presented
by Hamann Motorsport at this year’s Frankfurt Motor Show feature Hankook tires.
Together with Hamann Motorsport, Hankook Tire intends to develop new tire sizes for all vehicle categories - from compacts like the BMW Mini via sport utility vehicles like the Porsche Cayenne to high-end limousines like the BMW 7 series. The cooperation includes the development of summer and winter tires alike.
“Our Cooperation with Hamann Motorsport presents an excellent platform for us to demonstrate, along with the technical innovation capability, both the sporting image and the high performance of Hankook tires - and to do so worldwide,?said Calvin Pak, Senior Marketing Manager of Hankook’s Europe Regional Headquarters.
Hankook Tire aims to benefit from its German partner’s positive image especially in the European and American
markets and thereby to make sure of a pole position in competition with other manufacturers in the high-performance tire segment. Joint marketing of the technology partnership is intended to contribute toward achieving this objective. It will include all advertising and promotion activities, appearances at events, and merchandising. Starting with this year’s Frankfurt Motor Show Hamann Motorsport will equip all show and exhibition vehicles exclusively with Hankook’s Ultra-High-Performance tires.
[About Hankook Tire]
Hankook Tire (www.hankooktire.com, CEO Choong-hwan Cho) is a leading supplier of tires to consumers in 180 countries around the world. Since its establishment in 1941, the company has remained true to the tire industry for 64 years with its vision of delivering “Trust and Value to the World.?/p>
Continued bold R&D investments (4.8% of total sales invested in 2004) and aggressive expansion into overseas markets have equipped the company with international competitiveness and solidified its position as the leading tire maker in Korea.
As of the end of 2004, Hankook commanded a 45.8% share of the domestic market to take the number one position. In 2005, the company will become the first Korean tire company to achieve 1 billion $ in exports and annual sales be 8th largest in the world.
Hankook Tire began tire production at the Youngdeungpo Plant in 1942 and constructed Asia’s largest tire plant in Daejeon in 1979. In 1997, first-stage work was completed on the high-tech Geumsan Plant. Currently, the company manufactures 38 million tires annually.
As part of the process to globalize manufacturing facilities, Hankook erected plants in the Jiaxing and Jiangsu areas in China in 1999. Currently, 20 million tires are produced annually at the two plants.
In addition, Hankook has 3 regional headquarters, 35 local offices and 1,350 distribution centers inside Korea. Overseas, the company maintains 2 regional headquarters, 10 local corporations, 4 technical centers and 7 offices.
Product development is pursued at the Main R&D center located within the Daeduk Science Town, Akron Technical Center (ATC) in the US, Europe Technical Center (ETC) in Germany, China Technical Center (CTC) and Japan Technical Center (JTC). The centers are equipped with state-of-the art facilities and are staffed by 500 employees, including 300 topnotch engineers.