Hankook Tire’s Hungarian Production Site Completed 2nd Construction Phase

Hankook Tire announced the successful completion of its 2nd Rácalmás plant production unit. Construction works for the expansion of the company’s European production site started in September 2009. As planned the factory has extended its capacity, now producing approximately 12 million tyres per year and giving employment to 2,000 people.

In line with the dynamically growing demand for Hankook tyres in the European market, the company invested an additional 230 million Euro to build a second production unit in Rácalmás to increase the capacity of its state-of-the art European production site in Hungary – totalling investments in Hungary to 550 million Euros. The new 58,000m² unit has doubled the factories’ production volume and allows for the additional daily output of up to 17 thousand tyres, bringing the total production to approximately 34,000 tyres per day. The investment for plant expansion in Rácalmás creates over 700 new jobs.

Since the initial opening of the plant in 2007 over 22.5 million tyres have been produced in Hankook Tire’s ultramodern European factory. The capacity has been growing steadily and dynamically: While 6 million tyres were produced in 2010 this year’s total production is expected to reach 9 million tyres, going up to 12 million tyres as of 2012.