Select Page

Hankook Tire agrees to buy share of Halla Visteon

header

To strengthen its automobile business, Hankook Tire, agreed to acquire a 19.49% stake in Halla Visteon Climate Control Corp (HVCC), a full-line supplier of automotive thermal management solutions. With 19.49% stake, the tyre maker has become the second largest stakeholder in HVCC, after the private equity firm Hahn & Company, which holds 50.5%.

Hankook Tire decided on the purchase of shares recognizing HVCC’s stable operating and financial performance with its global portfolio in the automotive industry. Hankook Tire expects to generate synergistic opportunities through coactions of sharing accumulated global business strategy and knowledge.

“This significant investment demonstrates Hankook Tire’s continued commitment to growth and to increase its competitiveness worldwide” said  Seung Hwa Suh, Vice Chairman and CEO of Hankook Tire. “We expect to further contribute to global automakers with combined market position and fostering strong synergy.”

About The Author

Leave a reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest Issue

Newsletter Subscription

Recent Tweets

Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates from our team.

You have Successfully Subscribed!