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Hungary News:
Hankook invests 8.6 million to expand its plant
Neu-Isenburg (Germany), October 22, 2012
The Hankook tire manufacturer will invest 8.6 million euros in expanding its European factory in Hungary, for which additional units will install a mixing of compounds that increase the effectiveness of the center, the company said in a statement.
The signature noted that this construction will allow economic injection of a new center of compounding with several buildings connected to this objective, in order to enhance the production process, especially in the first phase of tire manufacture.
Hankook forecast is that the expansion works of its Hungarian facility completed during the second half of next year. The company said that this project will be realized in the framework of the Operational Programme for Economic Development of the Government of Hungary, which has the support of the European Regional Development Fund.
Vice President and CEO of Hankook's European plant, Sang Il Lee, said that during the spring of 2011, the corporation completed "successfully" the second phase of development of this European plant, reaching fixed productive capacities.
"The creation of an additional mixing plant will allow us to significantly increase our effectiveness, so we have already started to train our new employees," said the director of the Asian firm.
The Hankook European center employs 2,200 people and manufactures tires for both cars to SUVs and commercial vehicles. Each day, the factory manufactures high performance tires 34,000.
Source: EuropaPress
