Construction on the expansion started in September 2009. As planned. the factory has extended its capacity, now producing about 12 million tires per year and employing 1,900 people.
“In line with the dynamically growing demand for Hankook tires in the European market,” the company invested an additional 230 million Euro to build a second production unit in Rácalmás – the total investments in Hungary now amounts to 550 million Euros. The new unit has doubled the factories’ production volume and allows for the additional daily output of up to 17,000 tires, bringing the total production to some 34,000 tires per day.
Since the initial opening of the plant in 2007, more than 22.5 million tires have been produced. While 6 million tires were produced in 2010, this year’s total production is expected to reach 9 million tires, going up to 12 million tires in 2012.
The Rácalmás plant currently produces tires for passenger cars, SUVs and light trucks in more than 500 different specifications.
“We are pleased to announce we have successfully completed the second phase of expansion in Hungary as planned and are now operating one of the most modern tire production facilities worldwide,” says Seung Hwa Suh, vice chairman and CEO.
“Apart from state-of-the-art technologies, our success depends on every one of our employees and business partners and we would like to thank them for their commitment and contributions,” he notes.“As a key investor and an important market player in the European automotive industry, Hankook is committed to continue its efforts to pursue dynamic growth and further developments to meet the growing demand for high quality tires in various places around the world including Europe,” says Suh.
For more information, visit www.hankooktireusa.com.
