South Korean tire manufacturer Hankook Tire is set to establish a new $800m tire manufacturing plant in Clarksville, Tennessee, US.
This new plant marks the eighth for the company globally and its first in the US. The company will commence the construction by end of 2014 and begin tire production by 2016.
Hankook expects to create 1,800 fulltime jobs for the region at this new plant. This plant will enable the company to increase its production capacity for the US market.
Hankook Tire vice chairman and CEO Seung Hwa Suh said that this new facility will help Hankook Tire accomplish their plan to establish a production base in all major markets.
"We will be able to provide our customers, consumers and car makers with high quality tires and industry leading service to meet the demands of the American market," Hwa added.
Hankook Tire America markets and distributes a range of passenger tires, light truck, SUV tires, and medium truck and bus tires in the US.
Image: Hankook Tire plans to invest $800m in the construction of a new tire manufacturing plant in the US. Photo courtesy: Hankook Tire America Corp.
