Czech Prime Minister Bohuslav Sobotka visited Nexen Tyre's plant located in Changnyeong, South Gyeongsang Province in South Korea today, as part of his official state visit. His visit commemorates the MOU between Nexen Tyre and the Czech government, which was signed a year ago today, and involves the construction of a new plant in Zatec, Czech Republic.
Prime Minister Bohuslav Sobotka had participated in a presentation session that gave an overview of Nexen Tyre's highly automated and eco-friendly manufacturing facilities, followed by a luncheon and a tour around the Changnyeong plant.
"We are pleased to welcome Prime Minister Bohuslav Sobotka to Nexen Tyre. 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," said Nexen Tyre Chairman Kang Byung-Joong. He added, "We look forward to further cementing our partnership with the Czech government and to set up the best tyre manufacturing facility with advanced technology in Europe."
Nexen Tyre singed the investment agreement with the Czech government in June last year investing approximately EUR829 million to build the new plant on 650,000 square meters of land in Zatec. Zatec is strategically located near Germany, France and Great Britain, allowing Nexen Tyre to meet rising demands in Europe, which is one of the largest tyre markets. It also gives the company an absolute advantage in supplying Original Equipment (OE) tyres 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 Tyre plans to begin operating the plant in 2018 after construction is complete and then to gradually increase its annual production capacity to over 12 million units. It is highly anticipated that the new plant will contribute to increasing the employment rate in this region by creating more than 1,000 jobs. Also, this new plant will pave the way for Nexen Tyre to become the global top player amongst world's tyre manufacturers.
Currently, Nexen Tyre owns three manufacturing facilities, two in Korea and another one in Qingdao, China.
About Nexen Tyre
Nexen Tyre, established in 1942, is a global tyre manufacturer headquartered in Yangsan, South Gyeongsang Province, and in Seoul, South Korea. Nexen Tyre, one of the world's fastest growing tyre manufacturer, has 205 dealers based in approximately 130 countries around the world and owns three manufacturing plants -- two in Korea (Yangsan and Changnyeong) and one in Qingdao, China. Another plant in Zatec, Czech Republic will begin operations by 2018. Nexen Tyre produces tyres for passenger cars, SUVs and light trucks with advanced technology and excellence in design. The company also focuses on producing UHP tyres, which are based on advanced technologies. Nexen Tyre supplies OE tyres to global car makers in various countries around the world. In 2014, the company achieved a grand slam of world's top 4 design awards for the first time amongst the various tyre makers in the world. For more information, please visit http://www.nexentire.com.