New Kumho Georgia Plant Progresses, Set for 2016 Open
Kumho Tire USA Inc.’s first U.S. tire plant is well on its way toward completion, as work crews at the site near Macon, Ga., have been racing to meet construction deadlines. The 1-million-square-foot tire plant, according to local reports, is about 90% complete and is on track to begin production in early 2016. Delayed for
Lockout, Riots at Kumho Factory
On Sunday, Kumho Tire announced it would shutdown operations at three of its plants following ongoing labor disputes. The following day riot police were called as unionized workers protested the lockouts at Kumho’s plant in the Gwangsan District, Gwangju. The union demanded Kumho cancel its lockout immediately and said the rally would continue until their
No Agreement Made on Kumho Industrial Sales Price
Creditors failed to reach an agreement on a price to sell their 57.5 percent stake in Kumho Industrial, the Korean Times reported. Last week, creditors were pushing Kumho Asiana Group to pay more than 650.3 billion won – the amount the company has said it cannot exceed – to purchase Kumho Industrial. On Aug. 27, the Korea
Creditors Ask Higher Price for Kumho Industrial
Creditors are pushing for Kumho Asiana Group to pay more than 650.3 billion won – the amount the company has said it cannot exceed – for the purchase of Kumho Industrial. “It just makes no sense for creditors to ask us to buy Kumho Industrial at 59,000 won a share when its stock is traded
Kumho Tire Union Goes on Strike
Unionized workers at Kumho Tire Co.’s South Korea plants went on strike Monday as a result of labor and management not adopting a wage peak system, Korean media reports. The workers started the eight-hour strike at 6:30 at three Kumho production facilities including the one in Gwangju, near Seoul. Local media said management is working
Kumho OE on New Dodge Viper
Kumho Tires Co. announced a deal with Dodge to supply OE tires for the 2016 Dodge Viper ACR. The Dodge Viper will be shoed with Kumho Ecsta V720 designed specifically for the vehicle. The front will be 295/25/19 and back will be 355/30/19.
Park’s Daughter Joins Kumho Management
Park Joo-hyung, daughter of chairman and chief executive Park Chan-koo, has been appointed senior vice president of Kumho Petrochemical, the Korean Times reported. This is the first time for Kumho Asiana Group to name a female to a chief executive post, the company said. Traditionally the company banned women from participating in group management. “The
Kumho Tire Credit Rating Upgraded
Kumho Tire’s credit rating has been upgraded following a debt rescheduling program, according to The Korean Times. The newspaper reported Kumho’s rating has been revised to an A- by BBB reflecting a stable cash flow. “Kumho Tire entered the workout program in 2009. During the next five years, the company streamlined itself through capital reduction
Kumho Ups Accuracy by Using RFID Tags on Half-Finished Tires
Kumho Tire has begun to apply the radio-frequency identification (RFID) system on its half-finished products in its domestic plants – marking the very first time a manufacturer has done so, according to a report by BusinessKorea. The tiremaker began placing RFID tags on completed TBR tires in 2013; it added passenger tires to the system
Kumho Hires New VP of Sales, Marketing
Kumho Tire USA has hired industry veteran Jim Mayfield as its new national vice president of sales and marketing. “Jim Mayfield will bring new innovative ideas developed during his long history in the industry. We welcome him and know that his leadership will bring prosperity to our sales and marketing divisions as well as
Construction Firm Sole Bidder for Kumho Industrial
Hoban Construction has emerged as sole bidder for Kumho Industrial, the holding company of Kumho Asiana Group and parent company of Kumho Tire, The Korean Times reported. “Hoban was the only entity that submitted a bid for Kumho Industrial,” a Korea Development Bank (KDB) spokesman said. “We will announce later whether creditors select Hoban as
After Recall, Kumho Seeking Top Sales in China
Kumho Tire Co. is aiming to increase its sales in China by 30% this year, according to South Korean media reports. The South Korean tiremaker wants to “re-emerge as the top seller in the world’s largest auto market,” according to a report Yonhap News. Kumho’s sales in China were hit hard when the company had