Hankook Tire, plans to invest more than $800 million to open its 8th production facility in Clarksville, Tennessee. The Korea-based company said its new plant will provide additional capacity for Hankook’s growing business in the U.S. market and create approximately 1,800 fulltime jobs for the region. Hankook is expected to break ground on the new plant by the end of 2014 and begin tire production by 2016.
“This new facility will help Hankook Tire accomplish our plan to establish a production base in all major markets,” said Mr. Seung Hwa Suh, Vice Chairman and CEO of Hankook Tire. “We will be able to provide our customers, consumers and car makers with high quality tires and industry leading service to meet the demands of the American market.”
The Clarksville, Tennessee location is ideal for Hankook, offering an extensive transportation network including rail, plane and interstate highway networks as well as regional access to the Mississippi River inland waterway, the company said.
“I want to thank Hankook Tire for its substantial investment in Tennessee and for the 1,800 jobs they’ll create in Montgomery County,” said Gov. Bill Haslam.