DUNAUJVAROS, Hungary (June 27, 2007) — Hankook Tire Co. Inc. has started production of passenger tires at its $650 million plant in Dunaujvaros.
The plant was opened by Hankook CEO Seung Hwa Suh together with the Hungarian minister of economy and the Korean ambassador. It is the company's largest investment in Europe and will make Optimo K415 and Optimo K715 tires.
“We are very glad to be welcomed by the Hungarian government, by the people of Dunaujvaros and the whole region,” Mr. Suh said. “One of our main targets is to boost the economy of the region and the whole country through the production of superior quality and high performance tires,” he added.
The facility has 810 employees at start-up; when fully on-stream employment will rise to 1,500. The company aims to double its market share in Europe and be producing 10 million tires at the plant by 2010.