The expansion − in a value of around 290 million EUR − is the 4th one in the history of the Company's European plant, which was initially opened in 2007. It will play a pivotal role in Hankook Tire's long-term strategy to cater to European market demands in both the original equipment and replacement truck and bus tyre sector. It is also expected to create around 150 new jobs and provide a provide a production capacity of over 550 thousand medium and heavy truck and bus tyres yearly.