South Korea's Hankook Tire Co. Ltd. is planning its first tyre plant in the US, which is expected to start production before the end of 2015. The company will spend about $1 billion to construct the plant in two phases. The first — costing about $700 million —will create a manufacturing operation capable of producing 6 million passenger and light truck tyres a year. The second phase will double the size of the factory to 12 million passenger and light truck tyres at a cost of about $300 million. The new factory will be highly automated and will initially employ at least 1,500, the company says.
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