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Hankook completes third phase of plant expansion

Pharma

South Koreaʼs Hankook Tire Magyarország has completed the third phase of expansion at its plant in Rácalmás, south of Budapest, managing director Sang Il Lee said today.

The €313 mln investment boosted annual capacity to 19 million tires and created 950 jobs. It also broadened the product palette, adding premium brands such as Audi, BMW, Daimler and Porsche, to the plantʼs business partners.

Since the launch of the first phase of the expansion, capacity has risen 250%. The project was finished two months ahead of schedule.

The plantʼs more than 3,300 workers now make almost 500 different types of tires, communications director Katalin Roy said. Three-fourths of the plantʼs suppliers are local, she added.

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