BRAMPTON, Ont. — Hankook Tire exceeded its own expectations by posting a first quarter operating profit of $191 million, up 501.2% over the same period in 2009.
Global earnings for the first quarter surged 17.6% to $1.2 billion.
“Last year, Hankook Tire achieved an unprecedented business achievement, by increasing global sales by 18% despite economic difficulties. We are now happy to release our Q1 results showing a year-over-year increase in operating profit that exceeds 500%,” said Seung Hwa Suh, vice chairman and CEO of Hankook Tire.
In Canada, Hankook Tire recently opened a second distribution centre in Vancouver in response to growth in western Canada. A year earlier, Hankook opened a new head office and distribution centre in Brampton, Ont.
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