Michelin Hungária Abroncsgyártó

Type
Business expansion
Country
Hungary
Region
Alföld és Észak; Észak-Alföld; Szabolcs-Szatmár-Bereg
Location of affected unit(s)
Nyíregyháza
Sector
Manufacturing
(22 - 23) Manufacture of rubber, plastic and non-metallic minerals
22.1 - Manufacture of rubber products
22.11 - Manufacture, retreading and rebuilding of rubber tyres and manufacture of tubes
250 jobs
Number of planned job creations
Job creation
Announcement Date
10 May 2005
Employment effect (start)
1 September 2005
Foreseen end date

Description

Michelin is currently the third largest tyre manufacturer in the world. The France-based company built a new tyre plant in Nyíregyháza, Hungary. The increasingly growing market demand in central-eastern-Europe was the reason behind the decision on the plant expansion of €60 million. The investment will create 250-300 jobs. This is the first time that motor car tyres will be manufactured in Hungary. Michelin Hungária Abroncsgyártó Ltd. has so far manufactured tires for agricultural vehicles in its plant in Nyíregyháza, and truck tyres in its headquarters in Budapest. 93% of the sales of the company with 2,000 employees are exported.

Sources

  • 10 May 2005: Népszabadság
  • 10 May 2005: Világgazdaság

Citation

Eurofound (2005), Michelin Hungária Abroncsgyártó, Business expansion in Hungary, factsheet number 61552, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61552.