The new unit of the Hankook Tire Rácalmás plant has started operation, well ahead of its target date. Construction of the factory’s second phase started in September 2009 and will reach its full capacity by the second half of 2011. The new 58,000 sq m unit will then be able to produce a further 16-17,000 tyres a day taking daily production at the plant to 34-35,000 units.

Demand for Hankook's tyres has been growing steadily all over the world, particularly in Europe. This increase allowed the spend of a further EUR230m in Hungary with investments now totalling EUR550m. After completion of the second phase, the plant will more than double its current capacity, manufacturing up to 12m tyres each year.

Hankook Tire Hungary is also hiring 700 new employees across 2010 and 2011. In response to the increasing demand for winter tyres this season and the overall shortfall in these products in the market; the new unit is currently focused on manufacturing winter- as well as all- season tyres.

The new production unit will play a future key role in Hankook’s strategy on the continent, especially in manufacturing ultra high performance (UHP) passenger car tyres and run flat tyres. Once full capacity is achieved later next year, the plant in Rácalmás will further increase its present product range of more than 500 different specifications.