Hankook raises Hungary production output further

Hankook has further its European passenger car tyre production facility in Hungary with a total investment of around 8.6 million euros. The company says it will install a new compound mixing unit, thus significantly increasing the factory’s effectiveness particularly in the first phase of tyre production. The ground breaking took place on 1 October 2012 and, according to preliminary plans, installation will be completed in the second half of 2013.

According to the company, the extension will be completed in the framework of the Economic Development Operational Program of the Hungarian Government supported by the European Regional Development Fund (ERDF), allowing further technological developments resulting in the creation of additional jobs.

“In the fall of 2011, Hankook Tire successfully completed the second development phase of our European plant thus reaching its designated capacity,” said Sang Il Lee, vice-president and managing director of Hankook’s European plant. “Installing additional mixing capacities will enable us to significantly increase our effectiveness. Therefore we have already started the training of our new employees.”

Hankook’s European factory currently employs 2,200 people and produces tyres for passenger cars, SUVs and light trucks in many hundreds of different specifications. The plant currently manufactures 34,000 tyres per day with an ever increasing proportion of ultra-high performance tyres (commonly also named wide-base tyres) as well as tyres supplied as original equipment (OE) to leading European automobile manufacturers. The majority of Hankook’s EU-made tyres are designated to satisfy the company’s growing demand in various European markets.