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Hankook Tire agrees to buy share of Halla Visteon


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.”

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