Reflects Hankook Tire's consistent R&D efforts to strengthen its tech leadership with advanced tire technology
February 27th, 2014 (Seoul, Korea) - Hankook Tire, the leading and one of the fastest growing tire companies in the world, signed a memorandum of understanding (MOU) on February 26th for the formation of strategic technological partnership with LANXESS, the world’s largest synthetic rubber supplier, to co-develop synthetic rubber technologies for high-performance tires. Under this agreement, the two companies will jointly study the development of new high-performance synthetic rubber grades and applications, which will increase the performance of tires from early stages of product development.
Targeted at the fast-growing high-performance tire market, this agreement builds upon an ongoing close partnership between Hankook Tire and LANXESS. The initial partnership began in 2008 for the supply of core materials for high-performance tires such as solution styrene butadiene rubber (S-SBR) and neodymium performance butadiene rubber (Nd-PBR). The newly established technical partnership will strengthen the ties between the two companies and expand the collaboration areas in the development of core synthetic rubber solutions for high-performance tires.
This form of technical partnership represents part of Hankook Tire’s continued R&D efforts. Coupled with the company’s investment for a new Central R&D Center and a Test Engineering Center in Korea, this additional R&D effort based on a far more interactive knowledge sharing with the partner company is expected to accelerate Hankook Tire’s pursuit to further advance its technological prowess beyond competition.
Dr. Sang Ju Lee, Senior Vice President and Head of Global R&D at Hankook Tire, said, “Based on our proven technological excellence, Hankook Tire has been focusing on high-performance tire sector and has made continuous R&D and investment efforts as part of our pathway towards becoming a global top-tier tire company.” He also added, “Our continued R&D efforts with this technical partnership will further contribute to solidify our position as a global premium tire maker with even more advanced tire technology.”
Dr. Joachim Grub, Head of the LANXESS Performance Butadiene Rubbers business unit, said, "LANXESS has a strong reputation for sophisticated and customized R&D efforts and 'innovation' as its key driving force. In this this new technical partnership, we will assist Hankook Tire to achieve a key position as a global tire company of high-quality products based on leading-edge technologies."
LANXESS, the world’s largest synthetic rubber supplier, provides high-performance synthetic rubbers to global leading tire companies. Last October, the company launched two new easy processing Nd-PBR rubber grades - Buna Nd 22 EZ and Buna Nd 24 EZ - aimed the fast-growing high-performance tires market, especially in Asia.
About Hankook Tire America Corp.
Hankook Tire (Vice Chairman & CEO: Seung Hwa Suh) is the leading and one of the fastest growing tire companies in the world. As a tire manufacturer dedicated to contribute to advancement in driving, Hankook Tire intensively invests in research and development via five R&D centers around the world. Applying the newest innovative technologies and solutions, it produces superior quality and high performance radial tires for passenger cars, 4x4s, SUVs, light trucks, campers, trucks, buses and motorsports at its seven manufacturing facilities in four different countries. Hankook Tire currently employs approximately 20,000 people around the world, and its products are available worldwide in over 180 countries.
For more information, please visit Hankook Tire's global web site at www.hankooktire.com.
LANXESS is a leading specialty chemicals company with sales of EUR 9.1 billion in 2012 and roughly 17,500 employees in 31 countries. The company is currently represented at 52 production sites worldwide. The core business of LANXESS is the development, manufacturing and marketing of plastics, rubber, intermediates and specialty chemicals. LANXESS is a member of the leading sustainability indices Dow Jones Sustainability Index (DJSI) World and FTSE4Good as well as the Carbon Disclosure Leadership Index (CDLI).