South Korean tire maker Hankook has completed the third phase of a 313 million euro (HUF 4 billion) investment project in Hungary, in which it has expanded the production capacity of its local plant and added 950 jobs, portfolio.hu reports.
The investment boosted the annual capacity of the Hankook plant to 19 million tyres and created 950 new jobs, managing director Lee Sang Il of the Rácalmás-based plant was been quoted by the financial website.
The project has been completed two months earlier than planned, thanks to support by the state and the local government, he added.
The production capacity of the Hankook plant is now 3.5 times as large as it was when the first phase was started. The plant supplies tyres to such premium brands, as Audi, BMW, Mercedes or Porsche.
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