Hankook further expands tire plant
South Koreaʼs Hankook Tire Magyarország will start the fourth phase of the expansion of its plant in Rácalmás, southwest of Budapest, this year, Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó said on Friday.
The fourth phase will cost HUF 89 billion and the government will give a HUF 2.97 bln grant to the plant, which will create 150 high value-added jobs, Szijjártó said, cited by national news agency MTI.
The new addition is scheduled to start production in the middle of June 2020, said Hankook Tire director for Europe Han-Jun Kim. Hankook has invested a total of EUR 880 million at its Hungarian plant and has turned out 120 million tires since the plant started production in June 2007.
Hankook employs nearly 3,300 workers at the plant. The plant supplies tires to Audi, Opel, BMW, Fiat, Ford, Seat, Škoda, Porsche and Volkswagen, among others in Europe, the director said.
Hungary CPI Drop Acknowledged at IMF/World Bank Spring Meeti...
Hungary to Address Future of Cohesion Policy During EU Presi...
AI may Save Hungarian Healthcare, Says Leading Doctor
Time Out Market to Open in Budapest Next Year
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
