New Nexen Plant

Nexen Tyre Corporation has commissioned a new plant located in Changnyeong (South Korea). This plant is the third for Nexen. Its construction cost the corporation one billion dollars. The construction began in June of the previous year. The company's management has high hopes that this branch will allow Nexen to enter the top ten of the world's largest automotive tire manufacturers.

It is planned that the Changnyeong plant will produce 60,000 automotive tires daily, which is 21 million tires per year. In the first year of its operation, 3 million tires will be produced. Currently, the plant's staff consists of 500 people, but in the future, the number of employees will increase. The company notes that by 2018, it should be 2,000 people.

— We are investing our hearts and souls in the Nexen Tire industrial complex in Changnyeong, which will allow us to become a global tire manufacturer. Together with the main plant in Yangsan and the Chinese production in Qingdao, the new plant will increase our production capacity to 60 million tires per year, which is three times more than now, — noted Nexen Tyre CEO Han-Pong Lee.

Note that currently, the company Nexen is ranked 25th in the ranking of global automotive tire manufacturers with a revenue of $1.3 billion.