A European plant for Nexen?
A news release from Bulgaria’s Ministry of Economy and Energy suggests that Nexen Tire intends to become the second Korean tyre maker with a manufacturing presence in the European Union. The Ministry reported that a meeting with a leading tyre maker took place during a visit to South Korea by Bulgaria’s Deputy Minister of Economy and Energy Krasin Dimitrov.
According to the Ministry’s release, the tyre maker is investigating suitable locations within Europe for building a passenger car tyre factory. The Ministry did not name Nexen as the tyre maker whose representatives spoke with Dimitrov, however its description of the company in question certainly fits the bill; it said Dimitrov met with a firm that sells some 10 million tyres a year in the EU and has a factory in China, offices in Dubai, London and Sydney, distribution centres in Germany and the US and a presence in about 120 countries.