Hankook expands Hungary facility

Premium tyre manufacturer Hankook is expanding its ultra-modern European facility in Hungary with a total investment of approximately €8.6 million.

The company will install additional compound mixing capacities, significantly increasing the factory’s effectiveness. The investment enables the installation of a new compound mixing unit and related buildings to strengthen the production processes especially in the first step of tyre manufacturing.

The extension will be realised in the framework of the Economic Development Operational Program of the Hungarian Government supported by the European Regional Development Fund (ERDF), allowing further technological developments resulting in the creation of additional jobs.

“In the fall of 2011, Hankook Tire successfully completed the second development phase of our European plant thus reaching its designated capacity,” said Sang Il Lee, Vice-President and Managing Director of Hankook’s European plant. “Installing additional mixing capacities will enable us to significantly increase our effectiveness. Therefore we have already started the training of our new employees.”

Hankook’s European factory currently employs 2,200 people and produces tyres for passenger cars, SUVs and light trucks in many hundreds of different specifications. The plant currently manufactures 34,000 tyres per day with an ever increasing proportion of ultra-high performance tyres (commonly also named wide-base tyres) as well as tyres supplied as original equipment (OE) to leading European automobile manufacturers. The vast majority of Hankook’s EU-made tyres are designated to satisfy the company’s growing demand in various European markets.