Halla Visteon Climate Control Corp (HVCC), automotive thermal systems provider, has received approval from shareholders to change its corporate name to Hanon Systems. The new name and identity follows the transfer of majority ownership of the company in June, and appointment of the new CEO. Visteon Corp sold its 70% ownership interest in HVCC to Hahn Auto Holdings (50.5% ownership) and Hankook Tyre (19.49%).
The company said Hanon symbolises its core capabilities in thermal management, with the Korean word characters ‘Han’ and ‘On’ meaning coolness and warmth, respectively. Hanon Systems unveiled its new corporate identity, which provides a visual representation of the company’s business through contrast of warm and cool colours, with the space in the middle symbolising airflow. It also revealed its new slogan ‘Accelerating Innovation,’ claimed to symbolise the company’s commitment to leading innovation in the global automotive market.
In-Young Lee, CEO, Hanon Systems, said this is an important change that reflects the new ownership and signals a renewed focus on growth and technological advancements in the automotive thermal management field. He added that the new name will help the company increase shareholder value by improving focus on stakeholders including employees, customers, suppliers, investors and communities where it operates.
Halla Climate Control has been supplying climate control solutions to the auto industry for almost 3 decades. It combined with Visteon’s climate business in 2013, and in 2014, the company acquired the automotive thermal and emissions product line of Cooper Standard Automotive.
