Hankook issues statement about Hanon Systems shares-position

Seoul – Hankook Tire has reissued a clarification provided in response to a 2019 media report regarding a potential change in its shareholding position in Hanon Systems.

Hanon Systems is a South Korean-based manufacturer and supplier of automotive climate control systems.

In a 31 Jan stock exchange filing, Hankook said it was "currently reviewing" its shares-position regarding Hanon Systems and that "no specific decision has been made so far.”

The Korean tire maker added that it would make a further announcement about the matter “when specific details are decided in the future or within six months.”

In 2015, automotive parts major Visteon Corp. sold its ownership stake in Hanon Systems to an investor consortium that included Hankook Tire and private equity firm Hahn & Co. for about $3.6 billion.