Michelin expands logistics base with €7 mln investment
French tire producer Michelin announced that it is expanding its logistics base in Vác, near Budapest, for €7 million, turning the base into one of Michelin’s European distribution centers, unit head Róbert Szabó told Hungarian news agency MTI late yesterday.
The expanded center will manage deliveries to 15 countries in Central and Southern Europe as of the end of 2016, receiving tires from more than thirty European factories, Szabó said, according to MTI.
The expansion, which includes the construction of a new office and increasing the size of the base from 20,000 sqms to 30,000 sqm, is expected to be completed next year, the head said.
Michelin Hungária Abroncsgyártó had revenue of HUF 247 billion in 2014, MTI reported.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.