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Hankook to boost Hungarian output

South Korea’s Hankook Tire plans to double capacity at its base in Hungary, Hankook Tire Magyarország PR manager Katalin Roy said.

Hankook plans to boost its daily capacity from 15,000 to 31,000 tires by 2010, Roy said. The expansion will involve increasing the area of the plant in Dunaújváros, south of Budapest, by 40%. As a result of the expansion, Hankook will raise staff numbers by 300 to 1,500. Hankook has already applied for the necessary environmental licenses for the expansion, Roy said. Roy declined to reveal the cost of the investment. However, Hankook said when it opened the plant that it would spend EUR 500 million in investments at the base by 2010. Newswire MTI learnt the expansion would start in June and be completed within one year. (Napi Gazdaság)