Hankook expands production in Hungary

Hankook will expand its Hungarian facility in an over HUF 2.4 billion (EUR 8.7 m) investment project, co-financed by the European Regional Development Fund (ERDF), setting up a new production hall for a new compound mixing unit to increase effectiveness.

The ground
breaking ceremony took place on 1 October 2012 and the works started on 15
October. According to preliminary plans, the new facility should be up and
running by the end of the first half of 2013. The project, which is to absorb
more than HUF 2.4 bn, is co-financed by the ERDF to the tune of HUF 558.5
million in the framework of the Economic Development Operational Program of the
Hungarian government, the financial website portfolio.hu reports. The new unit
with additional mixing capacities will create additional jobs too.

Hankook
Tire completed the second development phase of its European plant, reaching its
designated capacity, in the autumn of 2011. The Rácalmás plant, south of
Budapest, has been operating with a doubled capacity since October last year,
with 2,200 employees.

The factory
produces 34,000 tires a day (12.4 million annually) and supplies them as
original equipment (OE) to leading European automobile manufacturers. The
majority of Hankook’s EU-made tires are designated to satisfy the company’s
growing demand in various European markets.

(source: portfolio.hu)