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Korean Tire Maker To Invest In Czech Plant

Mon, 06/16/2014 - 12:18pm

PRAGUE (AP) -- The Czech government says South Korean tire maker Nexen Tire will invest $1.1 billion in a new plant in the country.

Foreign Minister Lubomir Zaoralek said Monday the new factory to be built near the northwestern town of Zatec should create more than 1,000 jobs.

The plant is set to open in two years.

The company supplies tires to major car plants in the Czech Republic and Slovakia, including Volkswagen's Skoda Auto and South Korea's Kia and Hyundai.

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