Samsung Engineering Secures Phase 2 of Nexen Tire's European Plant Project... "170 Billion KRW Scale"

Aerial view of Nexen Tire's European factory. (Photo by Samsung Engineering)

[Asia Economy Reporter Jeong Hyunjin] Samsung Engineering announced on the 26th that it has won the 170 billion KRW project for Nexen Tire's tire factory in the Czech Republic.

The contract for the 'Europe Factory Phase 2 Construction' signed between Samsung Engineering and Nexen Tire is a project to build a factory producing 16,000 tires per day in the Zatec area, located 70 km northwest of Prague, the capital of the Czech Republic. Samsung Engineering will handle procurement and construction, with completion scheduled for 2023. Samsung Engineering carried out Phase 1 of the Nexen Tire Europe factory project, which was awarded in 2016, and also performed the basic and detailed design for this Phase 2.

Since 1998, Samsung Engineering has executed more than 10 projects in the tire product sector in countries such as Hungary and China. This expertise in tire product projects and experience in the European region played a significant role in securing this contract.

Samsung Engineering explained that this order further solidifies the trust relationship with the global tire company Nexen Tire and enables expectations for additional related orders such as expansion construction. It also noted that it has broadened its base in the European region, increasing the potential for business expansion into key related industries within the area.

A Samsung Engineering official said, "Based on differentiated technology and abundant experience, and actively utilizing company-wide technological innovation achievements, we will successfully carry out this project," adding, "Through this, we will firmly establish a mid- to long-term partnership with the client and expand our presence in the European plant market."