Hankook inaugurates third phase of expansion in Rácalmás
The third phase of Hankoook´s EUR 313 million expansion project in Rácalmás has been completed, creating 950 new jobs and boosting the plant´s annual production capacity to 19 million tyres.
Plant director Lee Sang Il said that the project was finished two months early.
He added that since the plant was first opened, production capacity has been increased by 350 percent, and besides a boost in quantity, the new production facility has also made improvements in quality. As a result, the company is now a supplier of global OEMs such as Audi, BMW, Mercedes and Porsche.
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Katalin Roy, Hankook Hungary's head of communications said: with the addition of 950 new jobs, the total headcount of the South Korean manufacturer's only European plant is now over 3,300.
He reminded that since the ground-breaking ceremony in 2006 and launch of production in 2007, Hankook Rácalmás has been steadily expanded, with investment reaching EUR 885 million.
The third phase of the current development project was started in June 2013, while test production was launched in 2014. The plant reached full capacity in May 2015. The plant is now producing 55,000 tyres every day in 500 different sizes and specifications.
According to a press release published by the company before the completion of the investment project, 75 percent of the Rácalmás plant's suppliers were Hungarian firms.
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This ratio hasn't changed but thanks to the investment, the plant's supplier network has increased by 20 percent. As a result, the company now provides the livelihood of some 10,000 people indirectly.
Hankook Tire is the world's seventh largest tyre producer, manufacturing tyres for passenger cars, off-roaders, SUVs, light trucks, buses and motorsport applications.
The group sells its products in 180 countries worldwide, employing over 20,000 employees globally. Hankook tyres are fitted as original equipment on the vehicles of a number of OEMs, such as Porsche, Audi, BMW, Mercedes-Benz, Ford, Skoda, KIA, VW and Hyundai.
In 2013, Hankook's global turnover amounted to EUR 5.04 billion. The European market accounted for the third of the company's overall sales. Hankook currently manufactures over 70 million tyres annually at its seven production facilities.
Once company's new, U.S-based plant is launched, capacity will be boosted to 120 million tyres per year.
