S.Korea tyremaker Nexen to build $829 mln plant

Newswire

SEOUL, Sept 28 (Reuters) - South Korean tyremaker Nexen Tire said on Monday that it will invest 1 trillion won ($829 million) in a new domestic plant to meet growing demand. The factory, to be located in Gyeongnam Province, southeast of Seoul, would be the world's largest to produce tyres for passenger vehicles and light trucks, according to the company. "Facing a shortage of production capacity and a rapid change in the market environment towards pro-environmental and low-fuel (cars), ...

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