South Korean tyre maker Hankook Tire is investing almost EUR540 million to expand its plant in Rácalmás, located in Fejér County. It says it will be adding a truck/bus radial tyre production line to its European plant. This expansion proposal has been approved by the Board of Directors recently.
With target completion by 2027, the expansion will create about 450 new jobs. The Rácalmás plant is projected to produce 2,380 units of TBR products daily, with a total annual estimate of 800,000 units upon completion of the expansion.
Hankook currently has eight production sites around the world with a global capacity total of about 102 million tyres per year.
Hankook ‘s Rácalmás plant was completed in 2007 and has served as an outpost for the company’s European expansion.
The European plant, which has completed its third phase of construction, is equipped with manufacturing facilities that can produce 17 million passenger car and light truck (PCLT) tyres annually.
The same production plant has also attained the International Sustainability & Carbon Certification (ISCC) Plus certification this year.