Hankook spending EUR 32 mln on warehouses in Hungary
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South Korean tire maker Hankook is spending more than EUR 32 million on warehouses at its base in Rácalmás (about 53 km south of Budapest), its local unit said, according to a report by state news wire MTI.
Hankook Tire Magyarország said it is building a 13,000 sqm warehouse for base materials and a 20,000 sqm warehouse for finished product. When the investment is completed in a year, Hankook Tire will have space to store 1.5 million tires.
The company said the investment will improve the supply and security of base materials and "optimize costs".
Hankook Tire supplies the makers of the Audi, BMW, Fiat, Ford, Hyundai, Kia, Mercedes-Benz, Mini, Opel, Peugeot, Porsche, Seat, Skoda, and VW brands.
The company, which employs almost 3,000 people, had net revenue of HUF 203 billion last year, public records shows.
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