You are here: / / / European Commission says Hungary to host Apollo’s new tyre plant,...

European Commission says Hungary to host Apollo’s new tyre plant, endorses proposed investment

Author: Tyrepress Editors Comments: 0
In a statement released today, the European Commission endorsed investment aid for an Apollo factory in Hungary

Apollo Tyres hasn’t officially announced where its planned European factory will be built, but it looks as if the honour has gone to Hungary. Today the European Commission confirmed that a proposal to give Apollo Tyres (Hungary) Kft. €95.7 million (approximately HUF 29 billion) in regional investment aid for the construction of a tyre plant in Gyöngyöshalász is in line with European Union state aid rules. The Commission found that the aid granted by Hungary favours regional development, while any distortions of competition will remain limited.

Membership Required

If you are not yet a Tyrepress or Tyres & Accessories subscriber, you can change that here.

Subscribe now

Becoming a member has benefits such as:

  • Read our sector-leading articles in full
  • Full analysis of tyre business segments
  • Read Tyres & Accessories magazine online/in print

Already a member? Log in here

Related news:

  1. Hankook gains European funds for second Hungarian plant
  2. Reports: Apollo chooses Hungary for new tyre factory
  3. Apollo lays foundation of Hungary Greenfield tyre manufacturing plant
  4. Anti-dumping – EC to investigate Chinese tyre imports to Europe
Comments
Comments closed
Share this entry
Service history holes reduce car value by almost a fifth, says Kwik Fit The Parts Alliance, Paul Dineen Parts Alliance acquires 3 more Unipart Automotive sites, appoints ex-Car Care...

We see you are visiting us from China.

If you would like the latest news from the Chinese tyre industry in Chinese, visit our partner site TyrepressChina.com. Or click below to continue on Tyrepress.