Nexen Tire boosts global expansion with value-added tires

Nexen Tire is ramping up efforts for expansion into a broader range of overseas markets, strengthening marketing activities and sales networks not just in its core markets, such as Europe and North America, but also across the Middle East and the Asia-Pacific region. The Korean tire manufacturer achieved an earnings surprise in the first quarter, particularly in Europe where it chalked up quarterly sales of 316.5 billion won ($230 million). The robust sales there helped the company report record quarterly sales of 771.2 billion won. Europe accounts for some 40 percent of the firm’s total annual sales. This was driven by solid demand for the firm’s premium tire products, used for a group of luxury automakers in Europe. Starting from 2016, Nexen started supplying tires to European premium carmakers such as Porsche, and the company has since gained a strong foothold by diversifying its supply channels to other globally-renowned automakers. Nexen Tire’s factory in Zatec, the Czech Republic, is considered an optimal location, offering a strategic advantage for the company to supply tireWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times