Hankook Tire & Technology headquarters (photo = Hankook Tire & Technology)

 

[Alpha Biz= Reporter Kim Jisun] Hankook Tire Technology and Innovation (Hankook Tire) is acquiring Hanon Systems, the world's second-largest automotive thermal management solutions provider.

Hankook Tire announced on the 5th that during a board meeting on the 3rd, it resolved to acquire a 25% stake in Hanon Systems from Hanon Company and participate in a capital increase (12.2% new shares). The total amount invested in the acquisition and capital increase is 1.733 trillion won. Upon completion of the acquisition process, Hankook Tire will secure a 50.5% stake in Hanon Systems, becoming the largest shareholder and securing management rights.

Hanon Systems maintains partnerships with global automotive companies such as Hyundai Motor Group, Volkswagen Group, and General Motors. Its revenue last year was 9.5593 trillion won.

 

 

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