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Michelin adding UHP tire capacity in Hungary

Michelin is spending $53 million through 2017 to add capacity for ultrahigh performance tires at its plant in Nyíregyháza, Hungary. The project will more than double the factory’s overall capacity, raising output to 6,900 tires per day from its current level of 3,000 units per day. The project will create 100 new jobs to bring total employment to 950 workers. The project will focus on 18-inch UHP tires for the European market. In addition to current product categories, puncture-resistant tires also would be produced, the company said in a statement. Michelin added car tire capacity to the Nyíregyháza plant in 2005. Previously the plant was dedicated to farm tire production.

In May 2014, Michelin announced that it will shut down its truck tire plant in Budapest by mid-2015, saying that the plant’s location made expansion unfeasible.

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