LANXESS and Hankook Tire Sign Long-Term Butyl Rubber Supply Agreement
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Leverkusen - German specialty chemicals company LANXESS AG and South Korean tire manufacturer Hankook have further strengthened their collaboration by signing a five-year supply agreement where LANXESS will supply large volumes of butyl rubber to Hankook Tire from 2010 to 2014.
The contract was signed in Granges-Paccot, Switzerland, at the LANXESS Butyl Rubber business global headquarters by Mr. Jeong Ho Park, Vice President of Global Purchasing for Hankook Tire, and Dr. Ron Commander, Global Head of the LANXESS Butyl Rubber business unit.
"We are pleased to sign this long-term contract with Hankook Tire," says Commander. "This new agreement will further strengthen the already successfull cooperation between Hankook Tire and the LANXESS Butyl Rubber business."
This is the second long-term supply agreement signed between LANXESS and Hankook Tire. In 2007, both companies entered into a five-year contract for the supply of Styrene Butadiene Rubber (SBR) and Polybutadiene rubber. According to the latest agreement Mr. Park says: "We have secured a stable, long-term supply of Butyl Rubber and expect the business to grow in the future for both parties."
Hankook Tire is one of the world's largest and fastest growing tire manufacturers for radial tires for passenger cars, light trucks (SUVs, RVs etc.), trucks and buses. Hankook Tire is the 7th largest tire company in the world with global sales revenues of around EUR 2.5 billion, with more than 14,000 employees in four regional headquarters, over 20 overseas subsidiaries and five R&D centers around the world.
The LANXESS Butyl Rubber business unit is one of the leading producers of synthetic rubber and is part of the Performance Polymers segment. This segment recorded sales of EUR 3.28 billion in 2008.
LANXESS is a leading specialty chemicals company with sales of EUR 6.58 billion in 2008 and currently around 14,600 employees in 23 countries. The company is represented at 44 production sites worldwide. The core business of LANXESS is the development, manufacturing and marketing of plastics, rubber, intermediates and specialty chemicals.
Michael Fahrig
Spokesperson Trade and Technical Press
Tel.: +49 214 30 45041
Fax.: +49 214 30 44865
michael.fahrig@lanxess.com
