|Title Czech Prime Minister Bohuslav Sobotka Visits NEXEN TIRE on State Visit||Date2015-03-03|
● Czech Prime Minister Bohuslav Sobotka visits NEXEN TIRE’s manufacturing facility in Changnyeong for the first time
● Commemorating the MOU signed a year ago today for building an advanced new plant in Zatec, the Czech Republic
● The new plant in Zatec is expected to begin operation in 2018 and is highly anticipated to create more than a thousand jobs around the region in the future
Seoul, South Korea, February 27, 2015 – Czech Prime Minister Bohuslav Sobotka visited NEXEN TIRE’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 TIRE and the Czech government, which was signed a year ago today, and involves the construction of a new plant in Zatec, the Czech Republic.
Prime Minister Bohuslav Sobotka had participated in a presentation session that gave an overview of NEXEN TIRE’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 TIRE. 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 TIRE Chairman Kang Byung-Joong. He added, “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 TIRE singed the investment agreement with the Czech goverment in June last year around investing approximately €829 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 TIRE Tire to meet 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 TIRE 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 TIRE to become the global top player amongst world’s tire manufacturers.
Currently, NEXEN TIRE owns three manufacturing facilities, two in Korea and another one in Qingdao, China.