Hanon Systems Corp. (Formerly Halla Visteon Climate Control)
-The Company is a manufacturer of automotive air conditioning systems, modules, compressors and radiators.
-The Company has the largest share in Korea for automotive air conditioning systems.
-Its air conditioning systems and compressors are used in all the passenger vehicles built by Hyundai Motor and Kia Motors.
-The Company was established in March 1986 as a joint venture between Ford of the U.S. and Mando Corporation of Korea.
-In March 1999, the Company became a subsidiary of Visteon of the U.S.
-In 2013, the Company acquired most of Visteon's automotive climate business.
-In June 2015, Visteon has completed the sale of its approximately 70 percent ownership interest in Halla Visteon Climate Control Corp. to an affiliate of Hahn & Company, and Hankook Tire Co. Ltd., for approximately USD 3.6 billion.
-In July 2015, the Company changed its name to Hanon System Corp. from Halla Visteon Climate Control Corp.
Domestic Share for Automotive Air Conditioning Systems
|(According to the Company's survey)|
|Company||FY ended Dec. 31, 2017||FY ended Dec. 31, 2016||FY ended Dec. 31, 2015||Major customer|
|The Company||50%||47%||51%||Hyundai Motor,
|Doowon Climate Control Co., Ltd.||24%||26%||26%||Hyundai Motor,
|erae Automotive Systems Co., Ltd.||14%||14%||14%||GM Korea|
(As of Dec. 31, 2017)
|Major Shareholder||Interest Ratio (%)|
|Hahn & Co. Auto Holdings Co., Ltd.||50.50|
|Hankook Tire Co., Ltd.||19.49|
|National Pension Service||5.63|
Air conditioning systems
-Air quality sensors
Front end modules
|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.|