On August 6, Nexen Tire announced that it will host an opening ceremony for its new European plant.
TireWorld.com understands that the new Nexans tire plant is located in the Zátec region of the Czech Republic. The opening ceremony will be held on August 28.
In order to cope with the opening of the new plant, Nexans Tire plans to promote a new strategy and fully expand the European market.
Petr Ocko, deputy minister of the Czech Ministry of Trade and Industry, Travis Kang, global CEO of Nexans Tire, and Jiang Bingzhong, chairman of the board will attend the opening ceremony.
Nexen Tire's Czech factory covers an area of 650,000 square meters, with an investment of about 1 billion US dollars.
At the end of April this year, the first batch of tires produced by the factory for trial production officially went offline.
According to the construction progress, the annual production capacity of Nexen's European plant will be 3 million tires in 2019; by 2022, the annual production capacity is expected to reach 11 million tires.
Through increased production capacity, Nexans Tire plans to strengthen its global business and further establish its position in the European market.
Travis Kang said that through the European plant, they intend to develop, produce and distribute products tailored to the European market.
It is understood that Nexans Tire is headquartered in South Korea. In addition to the Czech factory, it has two factories in South Korea and a production base in Qingdao, China.