Tag: Hungary

JSR, MOL to build joint venture S-SBR plant in Hungary

19th November 2015 | 0 Comments

Groundwork begins this month on a new 60,000 ton per annum S-SBR plant destined to supply synthetic rubber to tyre industry customers. Construction of the new plant begins in the first quarter of next year at the MOL Petrochemicals site in Tiszaújváros, Hungary and the facility is a 51/49 per cent joint venture between Japan’s JSR Corporation and Hungary’s MOL Group. It is expected that the plant’s mechanical completion will take place within 2017.

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Apollo comments following financing deal for Hungary Greenfield plant

27th August 2015 | 0 Comments

Apollo secured 300 million euros financing for its Greenfield plant in Hungary, on which construction started in April 2015, bringing total investment to 475 million euros. The first product is expected to roll out in early 2017 and the facility will create approximately 1,000 jobs in the country. Commenting on the closure of the financing, K. Prabhakar, managing director of Apollo Tyres, Hungary said, “We thank our consortium partners who provided appropriate solutions to the specific financing needs for the project and facilitated a smooth execution.”

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Financing secured for Apollo Tyres’ Hungary plant

27th August 2015 | 0 Comments

Some 300 million euros in financing have been secured for the factory Apollo Tyres is building in Hungray. This financing comes from a consortium of banks made up of ABN AMRO Bank NV, Magyar Export-Import Bank, Raiffeisen Bank, Standard Chartered Bank and UniCredit Bank Hungary.

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Apollo lays foundation of Hungary Greenfield tyre manufacturing plant

Apollo lays foundation of Hungary Greenfield tyre manufacturing plant

10th April 2015 | 0 Comments

Construction of Apollo Tyres’ first European Greenfield plant in Gyöngyöshalász, Hungary, officially began on 10 April 2015, with a foundation stone laying ceremony. The international tyre manufacturer’s facility will start production in early 2017. The facility will produce both, Apollo and Vredestein branded tyres and will cater to the entire European market.

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Apollo named a Hungary ‘Investor of Year 2014’

30th March 2015 | 0 Comments

Apollo Tyres has been named as a Hungary ‘Investor of the Year 2014’ under the 'Largest Greenfield Investment of the Year' category. The award is instituted by the Hungarian Investment Promotion Agency (HIPA) and the Ministry of Foreign Affairs and Trade. The winners were announced during its third annual award ceremony held in Pesti Vigado in Budapest.

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Apollo moves European truck tyre OE R&D to Enschede

Apollo moves European truck tyre OE R&D to Enschede

24th March 2015 | 0 Comments

Attending the Geneva Motor Show is about original equipment (OE) positioning as much as it is about brand building. So when ambitious and fast-growing firms such as Apollo Tyres continue to make significant investments in such an exhibition it provokes questions about the company’s OE strategy. Geneva may ostensibly be about the latest and best cars, but our conversation with Apollo executives quickly shifted to the commercial vehicle tyres sector. Tyres & Accessories spoke with Apollo Tyres vice-chairman and managing director Neeraj Kanwar as well as chief business officer Sunam Sarkar in order to find out more about this as well as to consider the company’s future retreading options.

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Report: Michelin investing 40 million euros in Hungary plant

6th March 2015 | 0 Comments

Michelin has announced plans to expand production at its Nyíregyháza (northeastern Hungary) production plant as part of a 40 million investment project. According to the local Budapest Business Journal, the investment is expected to raise the plant’s daily output to 6,900 tyres by the end of 2017 and raise headcount by 100. Hungarian news agency […]

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Apollo Tyres launches 2015 Hungary recruitment drive for ‘100s of technicians’

Apollo Tyres launches 2015 Hungary recruitment drive for ‘100s of technicians’

25th February 2015 | 0 Comments

Apollo Tyres has announced details of its recruitment drive in Hungary for its soon to be built Greenfield facility at Gyöngyöshalász. Apollo plans to appoint 100 technicians and fresh graduate engineers soon, with a second drive to recruit a further 150 people in the second half of 2015. Although production will only start at the beginning of 2017, the first batch of employees for the Hungarian factory will be contracted in the beginning of July 2015. Besides technicians and engineers, the company is also seeking applications for various functional areas including administration and logistics.

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Hungary confirmed for first Apollo greenfield factory outside India

Hungary confirmed for first Apollo greenfield factory outside India

17th September 2014 | 0 Comments

Apollo has confirmed Hungary as the location for its first greenfield facility outside India. The manufacturer says that Hungary was chosen having considered some of its neighbouring Central Eastern European and Asian countries. Apollo’s latest investment, which is planned to total 475m euros over the next five years, was approved by its Board of Directors today.

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European Commission says Hungary to host Apollo’s new tyre plant, endorses proposed investment

European Commission says Hungary to host Apollo’s new tyre plant, endorses proposed investment

8th September 2014 | 0 Comments

Apollo Tyres hasn’t officially announced where its planned European factory will be built, but it looks as if the honour has gone to Hungary. Today the European Commission confirmed that a proposal to give Apollo Tyres (Hungary) Kft. €95.7 million (approximately HUF 29 billion) in regional investment aid for the construction of a tyre plant in Gyöngyöshalász is in line with European Union state aid rules. The Commission found that the aid granted by Hungary favours regional development, while any distortions of competition will remain limited.

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Hungarian union holds Hankook Tire demo

Hungarian union holds Hankook Tire demo

5th August 2014 | 0 Comments

Yesterday the Federation of Chemical Workers of Hungary (VDSZ) held a demonstration against Hankook Tire Hungary Ltd. and what it views as the tyre maker’s harassment of union officials at its plant in Rácalmás. The VDSZ called upon other unions and workers to display solidarity by attending the protest.

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Pirelli reviews German Grand Prix, announces tyre choices for Hungaroring

Pirelli reviews German Grand Prix, announces tyre choices for Hungaroring

21st July 2014 | 0 Comments

Nico Rosberg has extended his Formula One championship lead by winning his home grand prix, using a two-stop strategy with one stint on the P Zero Red supersoft followed by two stints on the P Zero Yellow soft tyre. It was the first time that Rosberg had ever finished on the podium at the German Grand Prix, but the 300th podium finish for Williams, courtesy of Valtteri Bottas – on the podium for the third consecutive time.

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Apollo launches Alnac 4G all season and winter tyres

Apollo launches Alnac 4G all season and winter tyres

2nd July 2014 | 0 Comments

With its sights set on gaining a bigger part of the European tyre market, on 27 May Apollo Tyres introduced two new tyres in Essen. The two new tyres, Apollo Alnac 4G All Season and Apollo Alnac 4G Winter tyres, joined to the existing range of Apollo Alnac 4G tyres being sold in Europe. Both tyres were developed in Apollo Tyres’ Global R&D Centre in the Netherlands and have been optimised to suit the requirements of European drivers and the European road network. While this was going on in the foreground, in the background the company has been involved in complex discussions relating to its much publicised plans to build an Eastern European factory. To this end Tyres & Accessories spoke with chief marketing officer Marco Paracciani. But first the new products…

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Apollo ‘yet to finalise’ greenfield tyre factory location

3rd June 2014 | 0 Comments

Following news reports that Apollo has chosen Hungary as the location of its new tyre plant, the company has released a statement reiterated its plans and stating that it is “yet to finalise the exact location” for its factory.

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Reports: Apollo chooses Hungary for new tyre factory

3rd June 2014 | 0 Comments

Slovakian news sources are reporting that Apollo has chosen Hungary over Slovakia for the site of its new 500 million euro tyre factory. According to the reports, is was “the business environment in Slovakia” pushed the manufacturer towards the other site when choosing from a shortlist of two.

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