Hanon Systems Expanding Hungarian Locations

Hanon Systems of South Korea with a dominant market share in the automotive thermal management market is expanding the production capacity of refrigerant valves for electric cars in Hungary. The company will invest almost EUR 54 million in three Hungarian sites. The developments will create jobs for 40 people in Székesfehérvár.

As the Hungarian Investment Promotion Agency reports, the company is one of South Korea's largest automotive suppliers, with manufacturing sites in 21 countries and 51 plants, as well as 3 regional innovation centres worldwide. The oldest location of Hanon Systems has been operating in Hungary for 30 years.

The company, which is one of South Korea's largest automotive suppliers, was established in 1986. The key products of the company among others include automotive climate control and heating systems, compressors, fluid transport lines and fittings, electronic coolant pumps and valves and powertrain cooling and heat exchangers.

The company is second in the global automotive thermal management market thanks to its solid technology and stable customer base. Its customers include all major OEMs all over the world.

In line with automotive trends, Hanon Systems is expanding the production capacity of refrigerant valves to support electric cars at its three Hungarian sites: primarily in Székesfehérvár, and to a lesser extent in Pécs and Rétság.