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Is Europe Next for South Korea’s Nexen?

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A news release from Bulgaria’s Ministry of Economy and Energy suggests that Nexen Tire Co. intends to become the second South Korean tiremaker with a manufacturing presence in the European Union.

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The ministry reported that a meeting with a leading tiremaker 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 tire company is investigating suitable locations within Europe for building a passenger tire factory. The ministry did not name Nexen as the company 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 tires a year in the EU and has a factory in China, offices in Dubai, London and Sydney, distribution centers in Germany and the U.S. and a presence in about 120 countries. (Tyres & Accessories)

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