Leading global tire maker Hankook Tire today announced that its board of directors approved a $1.6 billion investment to expand its Tennessee Plant, located in Clarksville.
The investment includes the previously planned Phase 2 expansion that will double production capacity of Hankook’s passenger car and light truck (PC/LT) tires, and adds a Phase 3 expansion with the company’s first U.S. production of Truck Bus and Radial (TBR) tires. The addition of the Phase 3 expansion project will bring 400 more jobs to the Clarksville area, for a total of 1,200 new jobs overall.
Hankook will double U.S. PC/LT production to 11 million units and enable production of 1 million TBR tires annually. The expansion also brings Hankook’s total investment in the area to $2.2B and will enable the company to further provide tire dealers and consumers with high-quality tires and industry-leading services to meet the demands of the American market, while supporting existing and future Original Equipment (OE) partners.
Source: Leaf Chronicle