Jan. 29, 2014—Hankook Tire announced record global sales for the 2013 fiscal year on Wednesday.
The South Korean–based company announced total gross sales of $6.44 billion and an operating profit of $941.5 million, both figures marking the highest in its history with an operating profit to sales ratio of 14.6 percent.
That acocunted for a 12.2 percent year-over-year increase in operating profit, all during a global economic downturn.
“Based on our foresight into the future, Hankook Tire’s consistent investments and future-oriented R&D operation have greatly contributed to solidifying the company’s headway into becoming a global top-tier tire brand,” said Seung Hwa Suh, vice chairman and CEO of Hankook Tire. “With strong foundation based on proven technological excellence, Hankook Tire in 2014 will further accelerate our business growth and become a strong, reputable company that contributes to advancement in driving.”
The company has been steadily expanding its global production footholds in strategic locations with Indonesia and Chongqing, China, plants in 2013, and recently announced plans for a new U.S. production facility.