Korea's Nexen Tire to open Poland factory?
Korean tire producer Nexen is looking for its first location to build a factory in Europe, with the Lower Silesian town of Ujazd in the running against a possible location in the Czech Republic.
“Soon there will one of Europe’s largest tire factories in Lower Silesia,” Deputy PM and Economy Minister, Janusz Piechociński is reported to have said recently.
“Nexen Tire is to make its decision by the end of March,” an anonymous source dealing with the negotiations told Puls Biznesu.
Nexen Tire produces some 30 million units annually in its factories in Korea and China. By 2020, the company hopes to be one of the top ten producers globally, manufacturing 80 million units with sales amounting to $2.5 billion.
Czech media have reported on the Nexen investment, with sources stating that the investment will cost some CZK 10 billion (PLN 1.5 billion) and create up to 2,000 jobs.
