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Michelin opens a tyre plant in NE Hungary

Michelin, Europe's biggest tyre manufacturer, opened a new Ft 14.5 billion high-performance tyre factory in Nyíregyháza yesterday. Minister of Economic Affairs and Transport, János Koka and Finance Minister János Veres attended the opening ceremony. The factory, to turn out 800,000 tyres annually, will employ 217 workers, Joel Pouget, head of Michelin's Hungarian unit, said at the opening, and added that local suppliers would meet 20% of the plant's orders. (MTI; NG 5)