Written on 13.02.2011 - Industry
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Hankook Tire to build new plants in China and Indonesia

Hankook Tire announced to build its global sixth and seventh manufacturing plants in Liang Jiang Xin Qu, Chongqing, China, and in Bekasi, Indonesia, respectively.

The sixth plant, which will also be the company’s third plant in China, will be build for an investment of USD 954 million on an area of 530,000 m2. Ground-breaking will be in Q1 2011 and it is expected to be completed by the end of 2015. According to Hankook Tire, the new plant will produce a total of 11.5 million passenger car and truck-and-bus tyres, generating sales of USD 1 billion annually.

It will also create about 4,600 new jobs in the region. The seventh plant will be build for an investment of USD 353 million on a 600,000 m2 site. The plant will manufacture 6 million passenger car and light truck tyres per year. Ground-breaking is expected in Q3 2011 and completion by September 2014.

Currently, the company is operating five production facilities around the globe - two in Korea (Geumsan and Daejeon), two in China (Jiaxing and Jiangsu), and one in Hungary (Rácalmás). The five plants have a total production capacity of 87 million tyres per year. By 2014, Hankook Tire expects to surpass a total annual production capacity of 100 million units.