The Prime Minister of the Czech Republic visited Nexen Tire Corp.’s manufacturing facility in Changnyeong, South Gyeongsang Province in South Korea during an official state visit. The stop was a commemoration of an agreement between Nexen and the Czech government to build a new plant in Zatec, Czech Republic.
Nexen will invest 829 million euros to build the plant on 650,000 square meters of land in Zatec, a location the company says is “strategically located near Germany, France and Great Britain, allowing Nexen Tire to meeting rising demands in Europe, one of the largest tire markets.
“It also gives the company an absolute advantage in supplying Original Equipment (OE) tires to global leading car manufacturers, including Fiat, Volkswagen and its Skoda Auto and Seat units. Currently, there are around 30 car manufacturing plants within a 400 km radius of Zatec.
Nexen plans to begin operations at the plant in 2018. Construction is to begin this year.
Gradually, the company says it will increase its capacity to more than 12 million units. The plant will create more than 1,000 jobs.
“We are pleased to welcome Prime Minister Bohuslav Sobotka to Nexen Tire,” said Nexen Tire Chairman Kang Byung-Joong. “We relish the opportunity to provide him with an interactive view of the Changnyeong plant, which is a benchmark for the new plant in Zatec. We look forward to further cementing our partnership with the Czech government and to set up the best tire manufacturing facility with advanced technology in Europe.”
Nexen currently operates three manufacturing facilities – two in Korea and one in Qingdao, China.
