Goodyear deal worth $1800 milllion to Hyosung

ERJ staff report (DS)

Seoul, Korea -- Hyosung Corp said the long-term steelcord supply contract with Goodyear is worth over $1.8 billion over many years. The company did not specify the period of the contract. The company said in a filing to the Korea Stock Exchange that it hopes the deal will take it from 7 percent of the $5500 000 million global steel cord global steelcord industry to 10 percent.

The announcement follows last week's annoucement that Hyosung is to buy Goodyear's global steelcord activity for $50 million, to include two factories - one in Asheboro, North Carolina; the other in Colmar-Berg in Luxembourg.

This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.

Disclosure announcement from Hyosung from Korea Stock Exchange (Korean language)

Hyosung Corp: Got $1.8 Billion Steel Cord Supply Contract

NASDAQ (US / Korea)

Hyosung Invests in New Plants to Grow Market Share

Chosunilbo (Korea)