Nexen Tire Corp.'s new tire plant in Europe is getting ready for its close-up. On Aug. 28, 2019, the manufacturing facility in Zatec, Czech Republic, will hold its grand opening as part of the company's "The New Wave for the Future" ceremony.

Chairman Byung-Joong Kang and global CEO Travis Kang will host the ceremony, which will celebrate the finalization of Nexen's four major global R&D and production networks. Also in attendance will be  Czech Deputy Minister of Industry and Trade Petr Očko.

"With the opening of the Europe plant, Nexen Tire plans to develop, produce and distribute products customized for the European market," said Travis Kang. "With the completion of our four global institutions, Nexen Tire will be presenting products... suited for our global customers, especially in Europe."

Nexen invested close to $1 billion in the plant, which covers 650,000 square meters (160.6 acres). It is located within the Triangle Strategic Industrial Zone in Zatec.

The plant has been operating since the end of April 2019. It has a production capacity of 3 million tires; that is expected to increase to 11 million by 2022.

Nexen"s four major global R&D and production networks are: Nexen univerCITY, Central Research Institute in Seoul, Korea; two R&D centers, located in Europe and North America; and the Zatec plant.

For more information on Nexen Tire Corp., visit www.nexentire.com.

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