CZECH REPUBLIC: Samsung Engineering wins USD 175 million order to build Nexen Tire plant in Czech Republic

South Korea`s Samsung Engineering Co. said Monday (31 Oct 2016) it was consigned by Korea’s tire maker Nexen Tire Co. to build a plant in the Czech Republic at a cost of KRW 200 billion (USD 175 million).

Under the turnkey order, Samsung Engineering will build the plant 70 kilometers northwest of the capital city of Prague. The plant will be capable of producing 15,000 tires per day. Construction is scheduled to be completed in June 2018.

Samsung Engineering has accumulated experiences and expertise by participating in 11 tire-related projects in Hungary and China since 1998. The company’s capacity to handle tire projects and project experiences in mid-Europe helped it win the order, sources said.

With the construction order, Samsung Engineering will be able to secure new customers and expect additional construction orders, while more likely to expand its foothold in mid-Europe.

Source: Daily “The Pulse”, Seoul; 1 Nov 2016

(Syed Rashid Ali, Karachi, Pakistan)