HS Hyosung Advanced Materials seeks to sell tire steel cord business

Quick Summary:

South Korea’s HS Hyosung Advanced Materials Corp.is seeking to sell its tire steel cord business to secure funds for its new growth ventures such as electric vehicle materials, hydrogen and artificial intelligence.

HS Hyosung Advanced Materials is the only company in the world that produces all three major tire reinforcements: steel cord, nylon tire cord, and polyester (PET) tire cord.

Through the sale of the steel cord business, which is less relevant to its main specialty fiber business, Hyosung wants to secure funds for investments, sources said.

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Article Details

Category: Economy

Markets: South Korea

Topics: Growth Business Materials Steel Hyosung Sources Tire Cord Advanced Company Group

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-23 @ 19:54:50 (6 hours ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 299 words

Reading Time: 2 minutes read

Sentences: 17 lines

Sentence Length: 18 words per sentence (average)

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Copyright Owner: © Korea Economic Daily

News ID: 25362031

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News Last Updated: 8 hours ago

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