By Patrick Raleigh ERJ On-line news editor
Paris-Groupe Michelin is investing Euro50 million to establish a car tyre production plant in Hungary, creating up to 300 new jobs. The operation will be based at the company's Nyireghaza plant, which currently produces agricultural machinery tyres.
The car tyre facility operation is due to start up in mid-2005 and reach a capacity of around 2500 tyre/day within 12 months, according to a Michelin spokeswoman. The expansion, she added, is to meet anticipated growth in eastern Europe.