Hankook updates European tyre production 19 October 2011

Hankook has completed its second Rácalmás, Hungary plant production unit, with the factory now producing 12 million tyres a year and employing 1,900 people.

"Apart from state-of-the-art technologies, our success depends on every one of our employees and business partners, and we would like to thank them for their commitment and contributions." states Jin-Wook Choi, Hankook Tire executive vice-president and COO for Europe..

"As a key investor in Hungary and an important market player in the European automotive industry, Hankook is committed to continue its efforts to pursue dynamic growth … to meet the growing demand for high quality tyres in Europe," he adds.

The company says it invested €230 million in the second plant bringing its total in Hungary to €550 million. The new 58,000m² unit has doubled the factory's capacity, allowing for an additional daily output of 17 thousand tyres, bringing the total to 34,000 a day – in line with growing European demand.

Since the opening of the first plant in 2007, more than 22.5 million tyres have been produced in Hankook Tire's ultramodern European factory.

While six million tyres were produced in 2010 this year's total production is expected to reach nine million, rising to 12 million tyres in 2012.

Author
John Challen

Related Companies
Hankook Tyre UK Ltd

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