Hankook Tire starts a new subsidiary in AustriaHankook Tire & Technology said Thursday it has established a subsidiary in Austria to expand its foothold in Europe.
The world’s sixth largest tiremaker by sales said the new overseas subsidiary set up in Vienna Schwechat, Austria, will allow it to directly provide services to two growing markets: Austria and Switzerland.
Hankook Tire & Technology believes the company can gain a bigger stake in the European market having already established a network in nine European countries.
At the moment, the company makes 85 percent of its revenue in overseas markets. It sells tires in 180 countries from eight production facilities and five research and development centers.
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