South Korea’s Hankook Tyre has finished the third phase of the expansion of its plant in Rácalmás, south of Budapest, managing director Sang Il Lee said. The 313 million euro investment boosted annual capacity to 19 million tyres and created nearly thousand new jobs in Hungary. Hankook also broadened its product palette, adding premium brands such as Audi, BMW, Daimler and Porsche, to the plant’s business partners. Since the launch of the first phase of the expansion, capacity has risen 250%, the managing director said.
The Hankook plant’s workers now make almost 500 different types of tyres, communications director Katalin Roy added. Three-fourths of the plant’s suppliers are local, she said. Having added 950 jobs headcount at the plant now exceeds 3,300 at the only European plant of the South Korean manufacturer, Katalin Roy said. Since the foundation stone of the factor was laid in 2006 and production was launched in 2007 Hankook has invested a total of EUR 885 million in Hungary, she noted.
Hankook Tire is one of the world’s largest and fastest growing tyre manufacturers of high-quality and high-performance radial tyres for passenger cars, light trucks, SUVs, RVs, trucks, and buses as well as motorsports. Hankook Tire continuously invests in research and development maintaining five global R&D centres located in Korea, Germany, USA, China and Japan. Production is taking place in the state-of-the-art European production site in Rácalmás, Hungary.
via hungarymatters.hu, portfolio.hu and hankooktire-press.com photo: Boglárka Bodnár – MTI