Hanon Systems (Formerly Halla Visteon Climate Control)

Company Profile

■URL

http://www.hanonsystems.com/En

■Address

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

Business Overview

-Korea's leading supplier of automotive air conditioning systems and modules, compressors and radiators, supplying products to Hyundai/Kia and Ford.

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)


-No.1 share in Korea for automotive air conditioning systems in the fiscal year ended December 31, 2021.

Automotive air conditioning systems Korean market share

(According to the company's estimates)
Company FY ended Dec. 31, 2021 FY ended Dec. 31, 2020 FY ended Dec. 31, 2019 Main customers
Hanon systems 48% 48% 45% Hyundai
Kia

Doowon Climate Control Co., Ltd.
34% 32% 35% Hyundai
Kia
ESTRA Automotive Systems Co., Ltd.(former erae Automotive Systems Co., Ltd.) 7% 7% 10% GM Korea
Others 11% 13% 10% -
Total 100% 100% 100% -

Shareholders

(As of Dec. 31, 2021)

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

Products

Thermal Management
HVAC
-Ultra-Flat HVAC
-Compact HVAC
-Straight Airflow Path HVAC

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 Body (ETB)
-Electronic Wastegate Actuator (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 System
-Heat Pump System
-High Voltage Cooling Fan Motor

FCEV
-Centrifugal Air Compressor
-High Voltage Cooling Fan Motor
-E-Compressor

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.
May 2021 Acquired Hanon Thermal Technology Czech, s.r.o.
Dec. 2021 Established Hanon Systems Hubei Co., Ltd. 

Supplemental Information 1