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Tires Production - S. Korea - Hankook tire selects Hungary for European factory
SEOUL,S.Korea -Automotive News Europe, by Norman Thorpe -Oct 31, 2005: -- Hankook Tire Co. said it has selected Dunaujvaros, Hungary, 68 kilometers south of Budapest, as the site for its 500-million euro European tire factory... Hankook said it will begin construction of the first phase of the plant early next year... It plans to start production in 2007, with a target of producing 5 million tires a year at the plant by 2008. First-phase investment is estimated at 300 million euros... The company expects to invest an additional 200 million euros to expand the plant to a capacity of 10 million tires a year by 2010.
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