Hankook Tire to Expand Plant in Tennessee to Double Production Capacity
2021/2/22 22:55:36Editor：AmandaFont Size：Big Medium Small
Hankook Tire announced on Feb. 15 that it was planning to expand its plant in Clarksville, Tennessee of the United States, to double its production capacity from 5.5 million units a year to 11 million units.
The company is planning to invest about 100 billion won in plant expansion in 2021 and invest the rest sequentially starting next year. The expansion work will be completed in the second half of 2023 or the first half of 2024.
The expansion plan was partially prompted by the U.S. government's anti-dumping tariffs on Korean tires. The U.S. Department of Commerce calculated a tariff of 38.07 percent for Hankook Tire, 14.24 percent for Nexen Tire, and 27.81 percent for others including Kumho Tire on Dec. 30, 2020.
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