Hankook Tire Europe announced that the 25 millionth tire rolled off the production line in November, 2011, at its Europe plant in Hungary. The milestone was reached following the successful completion of the plant's second production unit.
The company’s says its growth has been fueled by the increasing European demand for Hankook tires. The company has also been expanding OE supplies to leading car manufacturers. In 2009 Hankook announced it would double production at the plant.
Hankook Tire invested 550 million Euros to build the Hungary facility. The company says it recently reached full capacity at the plant, and now it produces up to 12 million tires per year and employs 2,000.
“Our state-of-the art European factory is the heart of our European operation and has key role in our business strategy as Europe is one of the most important markets for Hankook Tire,” says Jin-Wook Choi, executive vice president and European head of Hankook Tire.