The South Korean tire producer Nexen Tire has chosen Triangle industrial zone near Žatec in North Bohemia as the location for its first European factory. The Ústí nad Labem regional government still has pledged to sell the land needed by the Korean investor for less than CZK 400/sqm, the usual market price at Triangle. Nexen plans to invest CZK 10bn into the production facility and employ 1000 workers.
The tire producer is active in South Korea and in China. For its European facility, Nexen was considering North Bohemia, Moravia-Silesia or Poland. The company supplies Volkswagen, Škoda, Mitsubishi, Chrysler and Fiat.
