Korean investment coming to Mexico

Mexico City – Hankook, a Korean tires manufacturer, could establish in Mexico a plant with capacity to produce 15 million pieces every year, according to Raul Castillo Arteaga, Chairman, Mexican Association of Tires Distributors and Retreading Plants, Asociacion Nacional de Distribuidores de Llantas y Plantas Renovadoras (Andellac). Castillo Arteaga said that Hankook is one of the largest tires manufacturers in the world, and they are considering establishing a new factory in the United States, Brazil or Mexico. Hankook’s decision on the ideal country will be made late in 2012 or early in 2013, for it means a significant investment. Mr. Castillo said that he does not know the exact amount to be invested by Hankook at the place they choose. However, he did say that it would be significant because the company has few tires factories in the world but with high production volumes, over 15 million tires per year each.