Hyosung Looks to Buy Pirelli Reinforcement Unit - Tire Review Magazine

Hyosung Looks to Buy Pirelli Reinforcement Unit

South Korea’s Hyosung Group is negotiating to acquire Pirelli Tyre SpA’s tire reinforcement materials division.

Hyosung is currently the world’s largest polyester tire cord manufacturer, and is “pushing for acquisition of Pirelli’s tire reinforcement materials unit as part of its strategy to increase its presence in Europe,” according to reports.

Hyosung has built its international presence via acquisition, starting in 2006 with its buy of four tire reinforcement materials makers in the U.S., South America, and Europe, including Goodyear’s tire cord. Five years later, Hyosung came back to buy Goodyear’s two steel cord plants.

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