Nexen Eyes Building Tire Factories in Europe

Nexen Tire plans to build factories in "two or three European countries including the Czech Republic" and is holding negotiations at present.

Korea's No. 3 tire maker following Hankook and Kumho, Nexen operates two plants here and one in China that produce a combined 30 million tires annually. Nexen ranks 24th in the global industry.

"We've been exporting tires manufactured here to the world's second and third-largest automobile markets in North America and Europe so far," a company spokesman said. "We're strongly considering building plants in Europe to gain price competitiveness and boost our market share there."

Nexen supplies tires for the Volkswagen Polo.

Czech media reported recently that Nexen staff are in talks with the government there to build a plant following a recent deal to supply tires for Skoda.

englishnews@chosun.com / Mar. 26, 2014 13:00 KST