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Hankook moves forward €230 mln expansion

Korea's Hankook Tire has moved forward by about six months the planned start of a €230 million expansion at its plant in Hungary after earlier postponing the investment by a year, business daily Világgazdaság reported.

The expansion, which will double capacity at the plant in Dunaújváros to 10 million tires a year, could start by the end of September. The new capacity will be for high-performance, puncture-resistant tires.

In the autumn, Hankook postponed the expansion by a year until the first half of 2010 because of the global financial and economic crisis.

Hankook plans to boost staff at the plant by 250 to 1,500 as a result of the expansion. From 2012, it expects headcount to rise to 2,000. (MTI – Econews)