SEOUL, KOREA - Hankook Tire held a ground-breaking ceremony for a new plant in Tennessee in the United States on October 9. The Tennessee plant will become the Korean tire maker’s eighth global plant.
AHankook Tire official said, “The establishment of the new plant in Tennessee means more than expanding our production base. It will serve as a momentum for us to take a new leap forward in the U.S. market, the epicenter of the global automobile culture.”
Hankook Tire plans to invest a total of $800 million to complete the construction of the Tennessee plant by 2016.With an annual production capacity of 11 million tires, the Tennessee plant will be equipped with fully modern production facilities.
A company official said, “If the Tennessee plant launches full-scale operation, our annual global output will increase up to 100 million units. It will lay a foundation for us to compete with global top brands in North America.”