Nexen Tyre Co. has announced its plans to increase production at its Chinese plant in Qingdao from eight to 10 million units this year.
Speaking in front of around 100 Chinese dealers at the 2013 Nexen Tyre Annual Awards in Yunnan, China, Nexen said it also plans to expand its sales activities with more intensive regional marketing and innovate market-specific products from its Qingdao research and development center.
During the three-day dealer conference, awards were presented to Chinese tire dealers with outstanding performance and high sales growth over the past year. The dealers, who came from all over China, were told of the manufacturer’s expansion plans, as well as plans to extend its dealer network in China.
These plans were heralded by the establishment of a new sales branch in Shanghai – the Shanghai Nexen Tyre Sales Co. Ltd.
Park Kang-Cheol, president of Nexen Tyre Shanghai, summarized: “Nexen will continue to do well in China with its high-quality products and strong competitiveness, supporting the business activities of its local partners.”
Nexen Tyre’s Qingdao factory’s foundations were laid amidst a 1,653-square-meter site in May 2006 after five years’ planning. Tires for both cars and light commercial vehicles have been produced there since January 2008. The capacity was previously increased from seven million units in 2011 to eight million in 2012. It employs 1,600 local production workers.
Nexen exported 70% of its Qingdao production to more than 120 different countries in 2010. The remaining 30% was sold directly in China. The expansion will help the company to service increasing demand from the domestic market. In 2013, Nexen estimates that 10 million tires will be produced.
Source: Tyres & Accessories
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