*€540 million investment by 2027, reaching 800,000 units capacity per year upon completion
Hankook, newly elevated as a Premium tyre manufacturer will be newly adding a truck bus radial production line to its European Plant. This expansion proposal for a new Truck Bus Radial (TBR) production line at the Rácalmás plant in Hungary has been approved by the Board of Directors on November 23.
Hankook ‘s Rácalmás plant was completed in 2007 and has served as an outpost for the company’s European expansion. The European plant, which has completed its third phase of construction, is equipped with state-of-the-art manufacturing facilities that can produce 17 million passenger car and light truck (PCLT) tyres annually. The same production plant has also attained the prestigious International Sustainability & Carbon Certification (ISCC) PLUS certification this year.
Hankook will invest approximately €540 million in the project with target completion by 2027. The expansion will create about 450 new jobs. The Rácalmás plant is estimated to produce 2,380 units of TBR products daily, with a total annual estimate of 800,000 units upon completion. Hankook currently has eight production sites around the world with a global capacity total of about 102 million tyres per year.