Hankook to Double Capacity in Hungary

Hankook is reported to have plans for doubling capacity at its facility in Hungary. The BBJ, an English-language Hungarian business weekly, published comments made by Hankook Tire Magyarország PR manager Katalin Roy, who said that the tyremaker intends to boost daily capacity from 15,000 to 31,000 tyres by 2010.

The expansion will involve increasing the area of the Dunaújváros facility, south of Budapest, by 40 per cent, and 300 new staff will be employed. Hankook has already applied for the necessary environmental licenses for the expansion, said Roy. The cost of the investment was not disclosed, however at the time of the plant’s opening Hankook said it would spend 500 million euros in investments at the base by 2010. Work on expanding the plant will apparently begin this June and be completed within a year.