Troubled Kumho Asiana Agrees to Debt Plan

Published: December 30, 2009

Cash strapped Kumho Asiana Group and its creditors have agreed to a debt restructuring program.

Under the program, Kumho Asiana will sell a controlling stake in its Daewoo Engineering & Construction Co. to a private equity fund led by Korea Development Bank for $2.5 billion.

In addition, it will also sell off its auto rental business for some $260 million, and its insurance unit for an undisclosed sum.

Furthermore, the debt of its Kumho Tire and Kumho Industrial operations will be restructured.

Kumho Tire announced earlier this week that paychecks for some 5,500 employees for the month of December were being withheld until January due to cash constraints.

Cosmo Tires to include 40,000-70,000 mileage warranty on all PLT tires

Cosmo will continue its portfolio expansion later this year when it launches its new Gripit X/T, Rockit R/T, and Cosmo Kurrent.

By Christian Hinton

Published: April 22, 2024

Cosmo Tires, distributed by Tire Group International, has introduced changes to its mileage warranty and road-hazard programs which will now feature a mileage warranty of 40,000-70,000 miles for all passenger and light truck tires offered.

“Our products are over-built and tested on the most rigorous tracks and terrains around the globe and this reflects our investments in manufacturing and quality. Now, all passenger and light truck tires carry Cosmo’s road hazard and mileage warranty ranging from 40,000-70,000 miles," said Dominick Montouri, chief strategy officer of Tire Group International, said.