Nexen Tire signs Czech plant deal, ups investment to $1.17 billion

Following Tyres & Accessories’ reporting of Nexen Tire Corp’s decision to build a greenfield tyre production plant in the Czech Republic back in March 2014, the company has signed a deal with the Czech government. On 27 June the Korean Yonhap news agency reported that tyre company negotiated a 1.2 trillion won (US$1.17 billion) to build the factory. The specific number here is significant because the details issued to T&A in March only referred to investment of $800 million dollars.

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