Hanon Systems (Formerly Halla Visteon Climate Control)

Company Profile

■URL

https://www.hanonsystems.com/En

■Address

95, Sinilseo-ro, Daedeok-gu, Daejeon, Korea

Business Overview

-A leading automotive air conditioning system supplier in Korea.

-The company mainly supplies products to Hyundai, Kia, and Ford.

-The company manufactures air conditioning, powertrain cooling, compressors, fluid transport, and hydraulic control systems.

History
1986	Established as a joint venture between Ford and Mando Machinery (now Mando) of Korea.
1999	Ford transferred its interest to Visteon (USA) and the company became a subsidiary of Visteon.
2014	Acquired thermal exhaust business from Cooper-Standard
2015	Visteon sold its interest in the company to affiliates of Hahn & Company and Hankook Tire
2015	The company changed its name to Hanon System Corp.
2019	Acquired Magna International's hydraulic controls business (Fluid Pressure and Controls)
2021	Acquired condenser business of Keihin Corporation (now Hitachi Astemo)

-The Company had the largest market share for automotive air conditioning systems in the fiscal year ended December 31, 2023.

Automotive air conditioning systems Korean market share

(According to the company's estimates)

Company	FY ended Dec. 31, 2023	FY ended Dec. 31, 2022	FY ended Dec. 31, 2021	Main customers
Hanon Systems	46%	46%	48%	Hyundai Kia
Doowon Climate Control Co., Ltd.	38%	39%	34%	Hyundai Kia
ESTRA Automotive Systems Co., Ltd.(former erae Automotive Systems Co., Ltd.)	8%	5%	7%	GM Korea
Others	8％	10％	11%	Renault Korea
Total	100%	100%	100%	-

Shareholders

(As of Dec. 31, 2023)

Major Shareholder	Investment Ratio (%)
Hahn & Co. Auto Holdings Co., Ltd.	50.50
Hankook Tire & Technology Co., Ltd.	19.49
Total	69.99

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Products

Thermal Management
HVAC
-Ultra-Flat HVAC
-Super slim HVAC system
-Straight Airflow Path HVAC
-Ultraviolet (UV) LED photocatalyst
-CO2 sensor
-Fragrance system

Compressor
-Fixed Swash Plate Compressor
-Rotary Suction Compressor
-Variable Swash Plate Compressor
-Electric Compressor

Fluid Transport

Controllers

Ionizers

Cooling Module
-Cooling Module
-Condensers

Thermal Management – Conventional
Cooling Modules
-Radiators
-Cooling Fan & Shroud

Charge Air Cooler (CAC)
-Charge Air Cooler
-Air CAC
-Water CAC

EGR Systems
-EGR Systems (Cooler, Valve and Bypass)
-High Pressure EGR
-Low Pressure EGR

Pumps & Valves
-Pumps
-Valves

Other Thermal and Emissions
-Electronic Throttle Bodies (ETB)
-Electronic Wastegate Actuators (eWGA)

Cold Storage Evaporator

Transmission Thermal Management
-Transmission Thermal Management
-Auto Transmission Warmer & Cooler
-Electronic Transmission Oil Pumps
-High Efficiency Transmission Oil Pumps

Thermal Management – Electrification
EV/HEV
-Battery Thermal Management Systems
-Heat Pump Systems
-High Voltage Cooling Fan Motors

FCEV
-Centrifugal Air Compressors
-High Voltage Cooling Fan Motors
-E-Compressors

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History

Mar. 1986	Halla Climate Control Corp. was established as a joint venture between Ford of the U.S. and Mando of Korea.
Apr. 1989	Technical center was completed in Daejeon.
Jun. 1989	The Company established Halla Climate Control Canada Inc. (HCC Canada).
Oct. 1991	Pyeongtaek plant was completed.
Dec. 1991	The Company received Q1 Award from Ford.
Oct. 1994	The Company acquired ISO9001 certification.
Jul. 1996	The Company went public.
Jul. 1996	The Company established Halla Climate Control Thailand Co., Ltd. (HCC Thailand).
Oct. 1996	The Company established Halla Climate Control Portugal - Arcondicionado. Lda. (HCC Portugal).
Dec. 1996	Daejeon plant was completed.
Jul. 1997	The Company acquired ISO14001 and QS9000 certifications.
Apr. 1998	The Company received the Best Supplier Award from GM.
Mar. 1999	Visteon of the U.S. became the Company's leading shareholder.
Jan. 2001	HCC Thailand received the Best Supplier Award from GM.
Jul. 2001	Ulsan plant was completed.
Jan. 2002	The Company received the Best Safety Supplier Award 2001 from GM.
Mar. 2002	The Company received the Outstanding Quality Performance Award 2001 from Mazda.
May 2002	Ulsan plant started mass production of front end modules.
Mar. 2003	The Company acquired ISO/TS16949:2002 certification.
Aug. 2004	The Company established Halla Climate Control Dalian Co., Ltd. (HCC Dalian) in China.
Jul. 2005	The Company started production of large capacity compressors in Dalian, China.
Mar. 2006	The Company acquired 100% stakes in Visteon Turkey.
May 2006	The Company established a new compressor plant in Dalian, China.
Jul. 2007	The Company established HCC Slovakia in Slovakia.
Oct. 2007	The Company established Climate Global, LLC in Korea., investing 50 percent of the needed capital.
Dec. 2007	The Company gained 100 percent of the shares in Climate Global, LLC.
Jul. 2008	The Company established Halla Climate Control (Shanghai) Technology Co., Ltd. (HCC Shanghai) in China.
May 2009	The Company changed the name of its Turkish subsidiary from Visteon Otomotiv Parcalari Uretim Sanayi Ve Ticaret A.S.(Visteon Turkey) to Halla Otomotiv iklimlendirme Sistemleri Uretim Sanayi ve Ticaret Anonim sirketi (HCC Turkey).
Jul. 2009	The Company acquired the remaining shares in Halla Climate Systems Alabama Inc. (HCSA), making it into its wholly owned subsidiary.
Dec. 2009	The Company established Halla Climate Control (Jinan) Co., Ltd. (HCC Jinan) in China.
Nov. 2011	The Company acquired 37.5 percent of the shares in Wuhu Bonaire Automotive Electrical Systems.
Mar. 2013	The Company acquired HVAC business from Visteon, and changed the name to Halla Visteon Control Co., Ltd.
Sep. 2013	Established Halla Visteon Climate Control Brazil Ltd. in Brazil.
Nov. 2013	Merged Climate Global, LLC which is a South Korea-based subsidiary.
Dec. 2014	Visteon has entered into an agreement to sell its approximately 70 percent ownership interest in the Company to an affiliate of Hahn & Company - a South Korea-based private equity company – and Hankook Tire Co., Ltd. for approximately USD 3.6 billion. The transaction is expected to be completed in the first half of 2015.
Jun. 2015	Visteon, the former largest shareholder, sold its ownership interest to an affiliate of Hahn & Company and Hankook Tire Co., Ltd.
Jul. 2015	Changed its name to Hanon System Corp. from Halla Visteon Climate Control Corp.
Dec. 2016	Opened an engineering center in Shanghai, China.
Dec. 2017	Established Beijing BHAP Hanon Systems Co., Ltd., in Beijing China, to manufacture HVAC control systems. The company is a joint venture with Shandon Binzhou Bohai Piston Co., Ltd. that is a subsidiary of BAIC.
Jan. 2018	Established Chongqing Hanon Jianshe Automotive Thermal Systems Co., Ltd.
Aug. 2018	Established Hanon EFP Corporation
Aug. 2018	Established FAWER Hanon Automotive Components (Changchun) Company Ltd.
Aug. 2018	Established Hanon systems EFP Deutschland GmbH
Nov. 2018	Established EFP Operations Mexicana, S.A.de C.V
Nov. 2018	Established Climate Systems Services Mexicana EFP, S.A. de C.V.
Nov. 2018	Completed acquisition of Gibbs-Hungary Die Casting Ipari Termelo Kft.
Mar. 2019	Completed the acquisition of Magna International’s Fluid Pressure and Controls Division.
Nov. 2019	Merged Hanon Systems Southern Germany GmbH into Hanon Systems Deutschland GmbH.
Nov. 2019	Merged Hanon Systems EFP Bad Homburg GmbH and Hanon Systems Bad Homburg GmbH into Hanon Systems EFP Deutschland GmbH.
Dec. 2019	Completed divestment of Jinan Han Cai Automotive Parts Company.
Feb. 2021	Sold Hanon Bangalore Operations Private Limited.
Mar. 2021	Acquired Hanon Thermal Technology Czech, s.r.o.
May 2021	Acquired Powertrain Cooling de Mexico, S.A. de C.V.
May 2021	Acquired Keihin Corporation’s North American and European condenser operations
Dec. 2021	Established Hanon Systems Hubei Co., Ltd.