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Hankook plans expansion to add TBR capacity in Hungary

South Korea’s Hankook Tire Co. Ltd. plans to add truck tire capacity at its 11-year-old passenger tire factory in Rácalmás, Hungary. Construction is expected to begin in June 2018, and tire production will start around June 2020.

Hankook is budgeting $358 million for the expansion, which will add 550,000 units of annual capacity for medium and heavy truck and bus tires. It also will create about 150 jobs.

Hankook said this expansion reflects its growing business in Europe in the commercial tire sector, including original equipment relationships with several of the continent’s leading commercial-vehicle makers.

This is the fourth expansion for the factory in Rácalmás, Hungary, since its initial construction in 2006. Hankook says the latest expansion provides production capacity of more than 55,000 tires a day, which adds up to annual capacity of 19 million tires.

Read the full press release here.

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