First Phase of Nexen’s China Investment Unveiled - Tire Review Magazine

First Phase of Nexen’s China Investment Unveiled

(Staffordshire, U.K./Tyres & Accessories) Nexen has unveiled visual plans for its China factory currently under construction and due to be up and running by the end of 2007.

The new plant will be one of the largest single tyre factories in China and follows a commitment by Nexen to invest £87 million ($170 million) over three years including the construction of a new R&D centre in China at the beginning of 2008.

The plans of the new Nexen plant also highlight additional employee facilities including a cafeteria and recreational area.

Chairman of Nexen Tire Corp. Byung Jung Kang, said: “The new plant in China will allow Nexen to improve availability and continue to increase the company’s international growth.”

Steve Parker, Stapleton’s trading director, says: “The creation of a new, purpose built factory in China will mean increased production of Nexen tyres, which is great news for our key dealer programme. Nexen partners will have the added reassurance of knowing the company is committed to maintaining availability and product development.”

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