Sehwa IMC Signs 4 Billion KRW Tire Supply Contract with Finnish Company..."Rapid Sales Recovery"

[Asia Economy Reporter Hyunseok Yoo] Tire mold manufacturing specialist Sehwa IMC recently announced on the 10th that it has signed a winter tire parts supply contract worth 4 billion KRW with Nokian, a global tire company from Finland.

Nokian is a tire specialist company spun off from Nokia, a Finnish electronics company, and boasts global competitiveness in the snow tire sector. Sehwa IMC gained recognition for its process technology when it opened the door to a snow tire parts contract with Nokian in 2017.

The company also secured an additional order worth 700 million KRW from Yokohama for its Philippine factory orders, with which it has global supply contracts. Accordingly, deliveries are being made to the local factories of both companies in Finland, the United States, the Philippines, and Japan, and the expected transaction scale is projected to reach 30 billion KRW annually.

A company representative said, “Despite the challenging business environment for global tire companies due to COVID-19, we are steadily securing orders from major tire clients,” adding, “After the easing of COVID-19, global sales are expected to expand at a faster pace, raising expectations for a performance turnaround.”

Sehwa IMC plans to reorganize its overseas sales lines to strengthen profitability and aggressively pursue sales targeting global vendors such as Kumho Tire.

This content was produced with the assistance of AI translation services.