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South Korea’s thermal management system manufacturer, Hanon Systems Co., Ltd., announced that it will achieve the annual revenue of KRW 10 trillion (JPY 1.1 trillion) for the first time in its history in 2025. Also, in 2026, it aims to maintain the growth momentum, generating sales of KRW 11 trillion (JPY 1.21 trilli
South Korea's Hanon Systems announced that it surpassed one million units in cumulative production of electric compressors that use eco-friendly refrigerant, R744. This milestone was achieved just one and a half years after reaching 500,000 units in January 2024. Hanon Systems produces these compressors at its automo
Hanon Systems has launched phase 2 of its photovoltaic system at Kladno plant in the Czech Republic, adding 20,000 sqm of rooftop solar panels to the existing 2,000 sqm of panels, with another 16,000 sqm planned in the coming weeks.
The project supports the company’s goal of becoming carbon neutral by 2040.
Once comp
Hanon Systems Co., Ltd. announced that it has won a 2025 Automotive News PACE Award for its solution to enhance antimicrobial and deodorizing performance in HVAC systems based on its visible-light LED photocatalyst technology. This solution effectively eliminates microorganisms, harmful gases, and odors entering the
Hanon Systems informed local trade unions Fim and Fiom, as well as the RSU, about the closure of its Benevento site, Italy by May 2025, affecting around 60 workers.
Despite nearly 2 years of discussions and efforts to diversify production through 3 industrial plans aimed at relaunching the site, the company stated th
South Korea’s Hankook & Company Group unveiled that it completed the acquisition of a thermal management system manufacturer, Hanon Systems Co., Ltd. One of its group companies, Hankook Tire & Technology Co., Ltd., acquired shares in Hanon Systems on January 3, 2025, to raise its stake to 54.77%. -Through the recent
Hankook Tire & Technology Co., Ltd. finalized share purchase agreements (SPA) with Hahn & Company to acquire 54.77% of the shares in Hanon Systems Co., Ltd. on October 31, 2024. Completion of the acquisition is expected to be by 2024.
This increases Hankook & Company Group’s assets to KRW 26 trillion (around EUR 17.4
On October 28, Hanon Systems announced a new plant in Canada, to support its growing business with global vehicle manufacturers. The facility includes approximately 284,200 square feet of manufacturing space, with room for expansion based on business needs.
It will be the company's first North American location to p
Several South Korean media sources reported that Hankook Tire & Technology Co., Ltd. resolved the acquisition of Hanon Systems Co., Ltd., a leading South Korean air conditioning system supplier, at the board of directors meeting.
The company initially planned to raise its stake in Hanon Systems to 50.5%, but it decid
Hanon Systems Co., Ltd. announced the development of the fourth-generation heat pump system for electric vehicles (EVs).
This product is the first to employ a parallel heat source recovery method, utilizing waste heat from the motor and battery and heat from external air. The recovered heat is used for heating, cooli
The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control of Hanon Systems Co., Ltd. by Hankook Tire & Technology Co., Ltd., both of South Korea.
The transaction relates primarily to the manufacturing of automotive thermal management system components, such as heating, vent
Several South Korean media sources reported that Hankook Tire & Technology Co., Ltd. agreed to acquire Hanon Systems Co., Ltd. Hankook Tire will purchase a 25% stake in Hanon Systems from its largest shareholder, Hahn & Company. It will also buy 12.2% of new shares, which is to be issued for a paid-in capital increas
Hanon Systems announced the inauguration of its new engineering center, located on the company’s compressor manufacturing campus in Palmela, Portugal.
The new center supports the Palmela plant, which is the company’s European flagship for electric scroll compressors. The two-story structure has around 2,488 sqm of sp
The Hungarian Investment Promotion Agency (HIPA) announced that Hanon Systems is investing EUR 117 million to enhance its three sites in Székesfehérvár, Pécs, and Rétság.
In the Székesfehérvár plant, the company will set up manufacturing capacities of EV thermo parts and integrate digital technologies into its manufa
Hanon Systems announced it is investing nearly USD 170 million to establish a new manufacturing presence in Loudon, Tennessee.
Once operational, the Hanon Systems facility in Loudon will employ 600 workers and supply thermal solutions for electrified mobility to automotive OEMs in the North American region. Hanon Sys
Several South Korean media sources reported that Hanon Systems Co., Ltd. (Hanon Systems), will build a new plant in Loudon County, Tennessee, the U.S. The capital investment in this project will be USD 170 million (JPY 24.4 billion). The new plant will produce thermal management solutions for electric vehicles (EVs)
Several South Korean media sources reported that an HVAC (heating, ventilation, and air conditioning) manufacturer, Hanon Systems Co., Ltd. (Hanon Systems), will build a new plant in Statesboro, Bulloch County, Georgia, the U.S., investing around USD 40 million (JPY 5.56 billion). The South Korean company will start
Hanon Systems announced it will invest more than USD 40 million to build a new manufacturing facility in Bulloch County, Georgia, to assemble automotive thermal solutions. Operations are expected to create 160 new jobs and begin in May 2024. Hanon’s plant will supply the Hyundai Metaplant and others in the EV indust
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