DUNAUJVAROS, Hungary (April 8, 2008) — Hankook Co. Ltd. said it has begun the process of seeking a second-phase expansion of its tire plant in Hungary.
The project will increase capacity at the Hankook Tire Hungary Ltd. site to 31,000 from 15,000 tires a day. The firm didn't reveal then specific investment in the expansion, but said it is part of the original total budget of $660 million.
Hankook said the expansion will increase the number of employees at the factory to 1,500. The plant had 800 at startup.
A Hankook spokeswoman said the firm is seeking the necessary approvals for the project, and has submitted an environmental impact study.