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Hankook Tire Magyarorszag sees share of direct deliveries climb in 2012

Korean-owned Hankook Tire Magyarorszag expects the share of direct deliveries to carmakers to grow in 2012, the company told MTI.

Direct deliveries to the European plants of Volkswagen, Hyundai and KIA make up a significant part of output, the company said without revealing any exact figures.

Hankook Tire Magyarorszag recently completed a €230m expansion at its plant in Racalmas, south of Budapest, Econews reported earlier. The plant can now turn out an annual 12m tires. Output this year is expected to reach 9m, up from 6m in 2010. Next year, output is seen reaching 12m.

Hankook has so far invested €550m in Hungary. Production at its plant started in 2007.