Hankook Wins Order

Hankook has won an order from two transportation subsidiaries of Sinopec to supply high performance tire recently. The volumes and details of the deal were not disclosed. The Korean supplier also has business with many transportation and bus companies in Chinese mainland.

Hankook Tire entered the Chinese market in 2003 and has since expanded its capacity in the country to 1.7 million units. China's tire and bus markets are growing at a rate of 15 annually and will reach 60 million units by 2010, according to industry forecasts.

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