The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Rubber And Plastic Products And Other Non-Metallic Mineral Products Manufacture Of Rubber And Plastic Products 22.11 - Manufacture of rubber tyres and tubes; retreading and rebuilding of rubber tyres
684 jobs Number of planned job creations
Announcement Date
2 May 2019
Employment effect (start)
Foreseen end date
1 February 2023
Description
The South Korean tire manufacturer Nexen Tire has launched a trial run at its factory in the Triangle industrial zone near the city of Žatec. The company currently employs around 700 people and will provide up to 1,500 jobs in the future. The company is dedicated to investing CZK 22.8 billion (€885.4 million) and creating 1,384 jobs. In addition, the use of the full state support amounting to CZK 3.6 million (€0.14 million) is conditional on the implementation of the investment plan until 2023. The factory with a production capacity of up to 31,000 tyres a day, or roughly 11 million a year, will mainly export products to Western Europe.
Eurofound (2019), Nexen Tire, Business expansion in Czechia, factsheet number 97729, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/97729.
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