The contract was signed in Granges-Paccot, Switzerland, at the Lanxess headquarters on June 25 by Mr. Jeong Ho Park, vice president of global purchasing for Hankook Tire, and Dr. Ron Commander, global head of the Lanxess butyl rubber business unit.

"We are pleased to sign this long-term contract with Hankook Tire,” says Commander. “This new agreement will further strengthen the already successful cooperation between Hankook Tire and the Lanxess butyl rubber business unit."

This is the second long-term supply agreement signed between the companies. In 2007, both entered into a five-year contract for the supply of styrene butadiene rubber (SBR) and polybutadiene rubber. According to the latest agreement, Ho Park says: “We have secured a stable, long-term supply of butyl rubber and expect the business to grow in the future for both parties." (Tire Review/Akron)