Tire Manufacturer Announces $600 Million Tennessee Expansion

URLhttps://www.thomasnet.com/insights/tire-manufactur
SourceTHOMAS
Date Published09/09/2022
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name Hankook Tire & Technology Co., Ltd
Parent companyHankook Tire and Technology Group
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
Total number of jobs (added or to be added):400
Year reshoring announced:2022
Year reshoring implemented or to be implemented:2024
Capital investment ($):600
Country(ies) from which reshored:Korea, Republic of
State(s) reshored to:TN
If relevant, work nearshored to:-
Industry(ies):Plastic & Rubber Products
Product(s) reshoredtire
What non-domestic negative factors made offshoring less attractive?Supply chain interruption risk/Natural disaster risk/Political instability
What domestic positive factors made reshoring more attractive?Lead time/Time to market
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