Hankook seeks second phase expansion of Hungary tyre factory

ERJ staff report (DS)

Dunaújváros, Hungary -- Hankook has begun the process of seeking a second-phase expansion of its tyre factory in Hungary. The expansion would take the capacity of the factory to 31 000 tyres per day, double the current number of 15 000 u/d. The company did not reveal the investment, but said it comes under the original total budget of Euro 500 million.

The expansion would take the number of employees to 1500.

A spokeswoman for Hankook said, "The second phase expansion of the factory is in preparation. We are getting the necessary approvals and have submitted the environmental impact study." She added that the type of tyres to be made at the new unit has not yet been decided, noting that truck tyres have not been ruled out.

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News report from Budapest Business Journal