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HISTORY

ONE GLOBAL COMPANY SHARPLY FOCUSED ON CUSTOMER SATISFACTION, INNOVATION AND GROWTH

The Journey of Hanon Systems For more than 30 years, Hanon Systems has grown as a technology innovator by continually adapting to industry trends and exceeding customer expectations. The company that formed in 1986 as a traditional automotive climate supplier has grown dynamically in its technology breadth, technical expertise and global reach to become what is Hanon Systems today, a full-line thermal and energy management solutions provider. The history of Hanon Systems is one of growth, which has been made possible by its unwavering commitment to support its customers, employees, shareholders and the communities where it operates. There is pride in the company’s legacy and its achievements, and there still exists an undeniable passion for the journey that lies ahead.

Building a Sustainable Future (2017 to Present) The industry shift toward eco-friendly vehicles represents a significant opportunity for Hanon Systems. With its sharp focus on accelerating growth, enterprise excellence and a customer-focused mindset to deliver shareholder value, Hanon Systems continues to see its business grow, particularly in solutions for electrified vehicles. With an eye on the future, the company remains diligently focused on implementing continuous improvement actions to achieve operational excellence and delivering eco-friendly automotive thermal and energy management solutions. In 2018, the company continued to be acknowledged for its efforts and achievements. Hanon Systems was named GM Supplier of the Year and to the Ford Aligned Business Framework, the automaker’s network of strategic suppliers. The company also was recognized by FCA for quality excellence at its Canada operations and announced its intent to acquire the fluid pressure and controls business of Magna International. In 2017, the company earned numerous customer and industry accolades including the coveted Ford World Excellence Award and the “Best Product Development Partner” award from Hyundai Motor Group. It also established two new joint ventures to support the company’s growth in China and support in the supply of eco-friendly solutions for new energy vehicles.

2017
  • Received the gold Ford World Excellence Award for superior quality, delivery and cost performance for compressors manufactured in Pyeongtaek
  • Designated a “green company” for Daejeon by the Korea Ministry of Environment
  • Received “excellent” shared growth index rating at the 46th annual Korea Commission for Corporate Partnership (KCCP) event
  • Established two joint ventures in China: in Chongqing with China South Industries Group Corporation (CSGC), and Changchun with FAWER Automotive Parts Limited Company
  • Received two IR52 Jang Young-Shil Awards: water-air cooled condenser and technology to improve air quality by measuring CO2 levels in the vehicle cabin
2018
  • Named GM Supplier of the Year
  • Designated by Ford to its strategic network of suppliers, the Aligned Business Framework (ABF)
  • Recognized by FCA for outstanding quality performance by Hanon Systems Canada
  • Received the customer satisfaction management award by the Korea Sustainability Management Evaluation and Korea Economic Daily Newspaper
  • Ranked in Top 100 List of CEOs and Companies in Korea
  • Gold Stevie® award by the International Business Awards® in the public relations technology category for the Hanon Systems corporate video
  • Achieved IATF 16949 certification
  • Definitive agreement announced to acquire the Fluid Pressure & Controls business of Magna

New Beginnings (2014 to 2016) The newly consolidated businesses that became HVCC launched the birth of a global powerhouse in the automotive climate sector. What were two companies became one, and the importance of leveraging operational synergies and building a sustainable framework was center-stage. The company focused on its glide path to build shareholder value and sustainable growth, and in late-2014 completed the acquisition of the thermal and emissions business from Cooper Standard. This new business laid a solid foundation to help the company further grow its know-how and automotive business in fuel-efficient thermal management solutions and modules. That same year Visteon Corp. announced its intention to sell its equity stake in HVCC. That deal was complete in mid-2015 when Hahn & Co. Auto Holdings became the majority shareholder and the company’s name changed to Hanon Systems. In 2016, the company celebrated its 30th anniversary. It also was named to Forbes Asia list of top companies in Asia; and received the IR52 Jang Young-Shil for its triple-zone HVAC and two New Excellent Technology (NET) certificates: for its deodorizing air conditioning technology and centrifugal air compressor.

2014
  • Received the IR52 Jang Young-Shil Award: centrifugal air compressor for fuel cell electric vehicles
  • Acquired thermal and emissions business from Cooper Standard
  • Recognized for Outstanding Climate Change Competitiveness in Korea
  • Received ‘2014 Best Supplier Award’ from Beijing Mobis for Best Delivery Performance
  • Awarded two New Excellent Technology (NET) certificates: innovative heat pump system for electric vehicles; and the high voltage cooling fan module for fuel cell applications
2015
  • Received the IR52 Jang Young-Shil Award: high-efficiency heat pump system for electric vehicles
  • Changed majority shareholder to Hahn & Co. Auto Holdings and changed company name to Hanon Systems
  • Received the IR52 Jang Young-Shil Award: smart intake-door control system for electric vehicles
2016
  • Opened new climatic wind tunnel in Korea
  • Named to Forbes Asia Fabulous 50 list of top companies in Asia-Pacific
  • Awarded two New Excellent Technology (NET) certificates: deodorizing air conditioning technology and centrifugal air compressor
  • Received IR52 Jang Young-Shil Award: triple zone HVAC
  • Opened China engineering center in Shanghai

Building on a Strong Reputation (2011 to 2013) The early-2010s, HCC continued to grow its business with a focus on delivering value-add technology. In 2011, HCC’s Turkey operation in Gebze was awarded the quality 5-star certification from Hyundai-Kia Motor Company (HKMC); and the company received the Green Management Award in Korea supporting its commitment to developing eco-friendly solutions and environmental manufacturing that same year. In 2012, the subsidiary in Chennai, India received the “Best Contribution Award” by Hyundai Motors India, and the Bhiwadi plant in India received the Shingo Silver Medallion for operational excellence. In Korea in 2012, the Pyeongtaek plant in Korea produced its 50 millionth compressor and the company received two New Excellent Technology (NET) certifications: HVAC miniaturization technology for the sliding door and the high voltage cooling fan module for fuel cell vehicles. In early 2013, majority owner Visteon Corp. consolidated its global climate business with HCC to formally combine the strengths of two highly regarded businesses creating the second largest automotive climate supplier in the industry. Known then as Halla Visteon Climate Control (HVCC), the combined businesses launched a new era and a new path of growth with a bright future.

2011
  • Acquired HMKC quality 5-Star certification for HCC Turkey (Gebze)
  • Awarded “Grand Prize of Green Company” by Korean Ministry of Environment
2012
  • Received “Best Contribution Award” for a supplier by Hyundai Motors India (HMI) for Chennai
  • Achieved 50 million production milestone for compressors at Pyeongtaek
  • Awarded New Excellent Technology (NET) certificate: HVAC miniaturization technology used in the sliding door and the high voltage cooling fan module for fuel cell applications
2013
  • Integrated its business with Visteon’s climate operations
  • Received the Automotive News PACE Award: metal seal fitting
  • Received the Shingo Silver Medallion for operational excellence for Bhiwadi plant in India
  • Awarded two New Excellent Technology (NET) certificates: technology to improve air quality by measuring CO2 levels in the vehicle cabin and HVAC smart intake door for electric vehicles

Quality and Innovation Recognition (2000 to 2010) By the early-2000s, HCC had become globally recognized in the automotive climate systems market and was repeatedly lauded for its high quality solutions. In 2002, Hyundai-Kia Motor Company (HKMC) named HCC “Supplier of the Year,” and the company was certified to ISO/TS 16949 quality compliance standards. In 2004, HCC was named by Forbes magazine to its “Best under a Billion” list for the third consecutive year. In 2007, HKMC awarded HCC its first quality 5-star certification for Daejeon and Pyeongtaek, and the company also won its first Automotive News PACE Award for its wavy blade fan and shroud technology that same year. HCC gained the environmental E11 mark from the European Union’s vehicle certification agency (VCA) in 2008, the same year sales reached $1 billion. For technology, the company received the IR52 Jang Young-Shil Award for its variable swashplate compressor (2006); its cluster ion generator to improve cabin air quality (2009); and its rotary suction compressor (2010). HCC also received New Excellent Technology (NET) certification in 2010 for its high voltage PTC heater for electric vehicles.

2000
  • Received the grand prize for value based management from the Korea Management Association
2002
  • Named Hyundai/Kia Supplier of the Year
  • Acquired ISO/TS 16949:2002 quality certificate
2004
  • Named by Forbes magazine to its Best under a Billion for the third consecutive year
2006
  • Received IR52 Jang Young-Shil Award: variable swashplate compressor
2007
  • Received the Automotive News PACE Award: wavy blade fan and shroud
  • Acquired HMKC quality 5-Star certification for Daejeon and Pyeongtaek
2009
  • Received IR52 Jang Young-Shil Award: cluster ion generator to improve cabin air quality
2010
  • Received IR52 Jang Young-Shil Award: rotary suction compressor

The Early Years (1986 to 1999) Halla Climate Control Corp. (HCC) was formed in 1986 as a joint venture between Ford Motor Co. and Mando Machinery Corp. In 1989, the company established its first research and development center in Daejeon, Korea. In the same year, HCC launched its first manufacturing operation outside of Korea in Ontario, Canada. In 1998, Ford transferred its majority equity stake in HCC to Visteon Corp. In this same year, the company was recognized by General Motors with its prestigious “Supplier of the Year” award. During this period the company continued to grow, establishing its compressor operation in Pyeongtaek in 1991 and opening its Thailand operation in Rayong in 1996.

1986
  • Established Halla Climate Control Corp., a joint venture between Ford Motor and Mando Machinery Corp.
1988
  • Produced its first heating and air conditioning system for the Hyundai’s Sonata model
1989
  • Established R&D Center in Daejeon, Korea
  • Established Canada operation in Belleville, Ontario
1991
  • Established compressor operation in Pyeongtaek, Korea
1996
  • Established Thailand operation in Rayong
1998
  • Named GM Supplier of the Year
1999
  • Visteon Corp. becomes major shareholder