Nexen to build Euro 575 million tyre plant in Korea - reports

ERJ staff report (DS)

Seoul, Korea -- South Korea's Nexen Tire is reported to be investing 1 million million won (Euro 577 million) to build the world's biggest passenger car tyre plant in in Gyeongnam Province, southeast of Seoul. The company is reportedly making the decisionin the wake of a US decision to impose tartiffs on China-made tyres.

Reuters reports that Nexen said earlier today that the plant will be on stream by 2017 and will more than double Nexen's current total capacity to 60 million units.

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S.Korea tyremaker Nexen to build $829 mln plant Reuters (Korea)/p>