Hankook Tire

Type
Business expansion
Country
Hungary
Region
Dunantul; Kozep-Dunantul; Fejer
Location of affected unit(s)
Dunaújváros
Sector
Manufacturing
Manufacture Of Rubber And Plastic Products And Other Non-Metallic Mineral Products
Manufacture Of Rubber And Plastic Products
22.11 - Manufacture of rubber tyres and tubes; retreading and rebuilding of rubber tyres
1,500 jobs
Number of planned job creations
Job creation
Announcement Date
25 October 2005
Employment effect (start)
1 June 2009
Foreseen end date

Description

South Korean tyre producer Hankook Tire agreed to establish a green field investment in Dunaújváros for EUR 500 million which will create 1,500 jobs. The construction works is to begin in March 2006, while the tyre production is expected to start in 2007. The plant is expected to reach its full production capacity by 2010, producing 10 million tyres a year. Originally, the factory was planned to be built in the south Slovakian town of Léva, however, Hankook was unable to come to terms with the Slovakian government on the amount of state subsidies.

Sources

  • 1 November 2005: Napi Gazdaság
  • 2 November 2005: Világgazdaság
  • 25 October 2005: Népszabadság

Citation

Eurofound (2005), Hankook Tire, Business expansion in Hungary, factsheet number 62475, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62475.