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By Kim Yoo-chul
General Motors has recognized Korea's Hanon Systems as one of its top suppliers for the third straight year, the company said Thursday.
In a statement, Hanon said GM named it a "GM Supplier of the Year" during a recent virtual ceremony. Hanon supplies thermal and energy management automotive products. The awards ceremony had been scheduled to be held in March but was postponed due to the COVID-19 pandemic.
"We are grateful to again receive this honor from GM. Such an achievement is a testament to the focus of our talented global workforce, dedication to build strong customer relationships and commitment to deliver value through innovative thermal energy management," the company in a press release. "This is the third consecutive year Hanon Systems has received the award, and the fifth honor in the company's history when Halla Climate Control was named GM Supplier of the Year in 1997 and 2000."
The Supplier of the Year award winners were chosen by a global team of GM purchasing, engineering, quality, manufacturing and logistics executives. Winners are selected based on performance criteria in product purchasing, manufacturing services and logistics, according to the release.
Lee Jae-il at Eugene Investment expects Hanon Systems to experience losses for the second quarter of the year hit by the massive shutdown of automotive factories amid the pandemic. The company is expected to report 1.37 trillion won in revenue for the second quarter and an operating loss of 20 billion won.
