Hankook investing €540m in Hungary plant to add TBR tire production

Seoul – Hankook Tire is to invest €540 million in its manufacturing plant in Racalmas, Hungary to add production capacity for truck and bus radial (TBR) tires.

The project will increase output capacity by 800,000 units per year by 2027, and create 450 new jobs, the Korean tire maker announced 23 Nov.

Operational since 2007, the Racalmas plant is one of Hankook’s eight production facilities and currently has the capacity to produce 17.2 million units of passenger car tires per year.

In 2018, Hankook unveiled a project to add TBR production at the Hungarian location, with plans to add capacity for 550,000 units per year of medium and heavy TBR tires at the site.

A year later, however, the company shelved the €290-million project, due in part to economic downturn, especially in the automotive industry. (ERJ report)