ID :
209342
Mon, 09/26/2011 - 05:39
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https://oananews.org//node/209342
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Hankook Tire takes 8th spot in global tire market
SEOUL, Sept. 26 (Yonhap) -- Hankook Tire Co., South Korea's leading tiremaker, ranked eighth in the global tire market last year in terms of revenue, and its smaller local rival Kumho Tire Co. took the 12th spot, an industry report showed Monday.
Hankook Tire, which ranked eighth in 2009 as well, continued to chase the No. 7 spot held by Yokohama Rubber Co. of Japan by posting sales worth US$4.75 billion last year, up 20 percent from a year earlier, according to the report published by U.S.-based industry magazine Tire Business.
Kumho Tire saw its global ranking rise by one notch last year with sales of $3.25 billion won, also up 30 percent from a year earlier, according to the report.
The report said the global tire market was estimated to be worth around $152 billion last year, up 20 percent from a year earlier.
The magazine attributed the sales increase to the economic recovery and price hikes.
Bridgestone Corp., the world's largest tiremaker, took the top sport with sales of $24 billion last year, the report said.
Hankook Tire, which ranked eighth in 2009 as well, continued to chase the No. 7 spot held by Yokohama Rubber Co. of Japan by posting sales worth US$4.75 billion last year, up 20 percent from a year earlier, according to the report published by U.S.-based industry magazine Tire Business.
Kumho Tire saw its global ranking rise by one notch last year with sales of $3.25 billion won, also up 30 percent from a year earlier, according to the report.
The report said the global tire market was estimated to be worth around $152 billion last year, up 20 percent from a year earlier.
The magazine attributed the sales increase to the economic recovery and price hikes.
Bridgestone Corp., the world's largest tiremaker, took the top sport with sales of $24 billion last year, the report said.
