NYIREGYHAZA, Hungary (Sept. 30) — Groupe Michelin has inaugurated production at its newest car tire plant, located at the firm´s agricultural tire factory complex in Nyiregyhaza in eastern Hungary.
The unit, built over the past 18 months at a cost of about $70 million to $75 million, will make 800,000 car tires a year when it reaches full capacity with 217 employees, according to a Michelin spokesman.
Michelin said the tires are destined primarily for the East European region around Nyiregyhaza and Hungary, but would not say what speed ratings the factory would produce.
"All our factories are capable of producing any speed ratings," he said, "and we will produce the tires that the local market demands."
The spokesman added that there is no further expansion planned at present, but the situation is evolving and Michelin constantly keeps such things under review.
Michelin acquired the Nyiregyhaza farm tire plant in 1996 with its purchase of Taurus Rubber Co.