Hankook Tire to acquire digital prototyping company Model Solution

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Hankook Tire to acquire digital prototyping company Model SolutionHankook Tire is to acquire a 75% equity stake in digital prototyping company Model Solution for KRW68.6bn (US$63m).

Model Solution will be incorporated as an affiliate company by taking over a 75% share, which will consist of a 51% stake from UK electronics company Laird, and a 24% stake from global private equity firm Crescendo Equity Partners.

Model Solution, founded in 1993, designs and manufactures prototypes and molds for IT equipment such as electronic and medical devices. Model Solution began its work in prototype solution services in 2007 and currently has over 420 clients globally.

The company possesses excellent technical and design skills in the industry and is continually developing its expertise in revolutionary new techniques such as 3D printing.

It is believed the combination of Model Solution’s expertise and the processing techniques used by Hankook Tire’s affiliate M&K Technology, a super-sized mold equipment company, will create the perfect synergy.

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Rachel's career in journalism began around five years ago when she started working for UKi Media & Events, having recently graduated from Coventry University where she studied the subject. Her favourite aspect of the job is interviewing industry experts, including researchers, scientists, engineers and technicians, and learning more about the ground-breaking technologies and innovations that are shaping the future of the automotive and tire industries.

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