Hankook together with the European Regional Development Fund (ERDF) will be making a new project in Hungary worth HUF 2.4 billion or 8.7 million Euros. South Korea’s largest tyre maker will set up a new compound mixing facility that will boost the efficacy of the Rácalmás-based plants.
The ground breaking activity took place on the first day of October and the construction started on Oct. 15. Based on the initial plans provided, the new unit will be up and ready for an operation mid next year. Aside from increasing the production, the new facility will open up new job opportunities to many Hungarian people.
The company has completed its second development phase in Europe last autumn of 2011. Its Rácalmás plant has been running and doubled its capacity since October of 2011, employing 2,200 workers.
The facility produces 34,000 tyres per day and supplies the items as original equipments to many leading automobile manufacturers in Europe. The Europe-made tyres of Hankook are designed to meet the demands for tyres by the European market. (RJA)