Hankook Tire is considering building its third overseas plant in Vietnam with a final decision set to be made in the second half of the year, according to reports.
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“We are currently closely examining Vietnam, Mexico and Russia as candidate sites to expand our overseas distribution networks, and a final decision will be made after July,” a company official was quoted as saying.
The official said Vietnam is considered a strong candidate.
Calvin Park, a company spokesman, said he is in the process of verifying the report, AFX reported.
In November, Hankook Tire’s global chief executive Suh Seung-Hwa said the company was considering building another production facility overseas after it completed a new plant in Hungary.
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By GlobalDataHe did not give details at the time.
The company is currently building a 500 million euro production plant in Hungary, its first in Europe. Partial production started there last June and it is due to be completed in 2010.
Hankook Tire has two production facilities in South Korea and two in China.
