Nexen Archives - Page 19 of 23 - Tyrepress

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Nexen announces new CP661 (TR) tyre

Korean tyre manufacturer Nexen Tyres has announced the availability of its new high-performance summer tyre with what the company terms “smooth-run features”. Nexen believes the CP661 (TR) offers “noticeable energy savings” and “excellent handling on both wet and dry surfaces”. The range comprises twenty-five sizes from 13” to 17” with aspect ratios between 55 and 70 and is made at Nexen’s Korea and China production facilities. A CP661 tyre is currently fitted as OE on the KIA Soul and the KIA Forte model.

20th May 2011/by Tyrepress Editors

Nexen exhibits at Shanghai Motors Show

Korean tyre manufacturer Nexen Tyre recently showed its range at the Shanghai Motor Show. According to the company, the aim was to increase awareness of the brand, establish the company’s standing as an international tyre manufacturer and broaden the basis for the Chinese OEM market.

3rd May 2011/by Tyrepress Editors

Nexen opens European Technical Center in Frankfurt/Hoechst

Nexen Tyre opened a technical centre in vicinity of Frankfurt, Germany in March. Nexen Europe Technical Center (NETC) in Frankfurt/Hoechst aims to be Europe and Korea’s interface for Nexen’s engineering development. At the private opening celebration, Min-Hyeon Han, head senior executive and vice president of Nexen Tyre’s Research and Development Center in Korea emphasized Europe’s central role in the brand’s global expansion. Nexen has set itself the objective of becoming one of the top ten tyre manufacturers worldwide by 2015.

21st April 2011/by Tyrepress Editors

Nexen Tyre reports 1.08 trillion won sales, up 11.8%

Nexen Tire Corporation has reported sales of 1.08 trillion Korean Won (£595.5 million; 696.385 million euros; US$964 million), an 11.8 per cent increase compared with 2009. Hyun Bong Lee, vice chairman and CEO of Nexen said: “Nexen has made a great step towards its target of becoming one of the top 10 tyre manufacturers in the world by 2015.” Sales have almost tripled since 2004 and are forecast to triple again by then.

25th February 2011/by Tyrepress Editors

Nexen increasing North American prices

On April 1, Nexen Tire America will implement price increases of up to eight per cent on its tyre ranges in the US and Canada. In announcing the price adjustment in a letter to customers, John E. Aben, the company’s vice president sales and marketing referred to rising raw material costs and particularly the “uncertainty in the cost of natural rubber.”

24th February 2011/by Tyrepress Editors

Hyundai, Ulsan – The largest car factory in the world

International News

With more than a quarter (11 million) of South Korea's population of around 40 million living in the capital Seoul and a further 1.1 million living in the country's capital of heavy industry Ulsan, it is clear the country's population s centred on its bustling metropolises. But while space can be found at a premium in the largest cities, the businesses that operate in each of these cities take advantage of the synergies available due to the close proximity of the workforce and other related companies.

1st February 2011/by Tyrepress Editors

Nexen aiming for US$2.5 billion sales by 2015

Company News, International News

While most of the western world celebrated New Year at the end of December, both China and South Korea were making plans for their celebrations at the start of February, based on the lunar calendar. Back in 2010 Nexen Tire Corporation announced plans for a 1 trillion won (US$1.2 billion) investment in its largest factory yet in Changneyeong in the same region as its first plant (Yangsan), which along with the company's second plant in Qingdao, China, continues to expand. Just before the oriental entrance into the new decade, Tyres & Accessories had the opportunity to visit Nexen on its home South Korean and adopted Chinese territory and saw how the company is implementing its plans to become a US$2.5 billion company in the next five years.

31st January 2011/by Tyrepress Editors

Nexen Setting Up European Technology Centre

Korean tyre manufacturer Nexen is in the process of establishing a European Technical Centre in Frankfurt/Höchst, Germany. The company says that the Centre underscores its efforts to establish itself further on the European market. Two experienced tyre specialists and developers have been involved with the interface between Europe and Korea since the beginning of the year – engineer Hee-Jong Lee and Dr. Hendrik Stevens.

26th January 2011/by Tyrepress Editors

Nexen Given Design Award for N8000 and Winguard Sport

The iF Product Design Award 2011 has been awarded to two tyres made by the Korean manufacturer Nexen. The N8000 UHP summer tyre and the Winguard Sport winter tyre prevailed from a field of 2,756 products from 1,121 registered participants in 43 countries. John Bosco Kim, managing director of Nexen Tyre Europe, hailed the win of the iF product design award in a statement: “For us, design prizes are among our most important distinctions.

26th January 2011/by Tyrepress Editors

Nexen Increases Prices in Europe

In addition to price rises in the US, as of January 1 Nexen has increased tyre prices in Europe. According to Nexen Tire Europe, prices for all product segments, including passenger car, 4×4 and light commercial vehicles, have gone up by at least nine per cent. The company says it was compelled to take this inevitable measure as “in the previous few months raw material costs, above all for natural rubber, have skyrocketed.” The company notes that in addition to natural rubber, prices of all products necessary for tyre production have increased.

6th January 2011/by Tyrepress Editors

Nexen Aiming to Produce 20 million Tyres in Qingdao by 2017

International News

Nexen’s Qingdao, China tyre production plant, which started manufacturing tyres in 2008, will soon enter the black and could be producing as many as 20 million tyres a year by 2017. Korean tyre manufacturer Nexen Tire published the latest details in a recent internal newsletter emailed to staff and customers, where the factory’s management also gave details of Nexen’s plans for the plant.

Based on a site one hour’s drive north of Qingdao Airport in Shandong Province, China, Nexen representatives describe their most modern plant to date (the firm broke ground on a further plant in Gyeongnam Province, South Korea on 24 June 2010) as the company’s “ambitious masterpiece.” With output currently reported to be 6 million truck, bus and car radials a year and bearing in the mind the fact that it already occupies a 530,000 square metre area with further expansion still to come, it is clearly a significant operation.

2nd November 2010/by Tyrepress Editors

Hankook Results Counter ‘Lacklustre’ Analyst Expectations

Hankook recent record second quarter results contradict the negative predictions of some financial analysts that when Hankook Tire kicks off the second quarter earnings season for auto/auto part makers on 20 July, it will set the tone for a “lacklustre” set of results from the likes of Hankook, Kumho and Nexen. In an investor’s note dated 1 July 2010, Deutsche Bank research analyst Sanjeev Rana had commented: “We expect tyre makers such as Hankook and Nexen Tire to report in line or slightly below consensus results due to the burden of higher rubber prices.” It appears these reports failed to take into account the huge profit jumps of 501 per cent and 43 per cent in the first quarter 2010 from Hankook and Nexen respectively and an 18 per cent increase in sales from Kumho – all of which surprised analysts at the time.

23rd July 2010/by Tyrepress Editors

Analysts Expect ‘Lacklustre’ 2Q from Korean Tyremakers

When Hankook Tire kicks off the second quarter earnings season for auto/auto part makers on 20 July, it will set the tone for a “lacklustre” set of results from the Hankook, Kumho and Nexen, according to Deutsche Bank. In an investor’s note dated 1 July 2010, Deutsche Bank research analyst Sanjeev Rana: “We expect tyre makers such as Hankook and Nexen Tire to report in line or slightly below consensus results due to the burden of higher rubber
prices.”

7th July 2010/by Tyrepress Editors

Work Begins on Nexen PCR Plant

Construction work on Nexen’s newest passenger car and light commercial vehicle tyre factory in South Korea’s Gyeongnam Province has begun following its groundbreaking ceremony on June 24. The 500,000 square metre Changnyeong facility is being built with a 1.2 trillion won (£646 million) investment and Nexen anticipates its output will boost the company’s South Korea and China total to 60 million pieces per annum.

6th July 2010/by Tyrepress Editors

Titan Announces 6% Price Increase

Titan Tire Corporation, a subsidiary of Titan International, Inc. has announced that it will implement a price increase on Titan branded farm and construction tyres and Titan manufactured Goodyear branded farm tyres effective 1 June 2010. The increase of up to approximately 6 per cent is designed to offset rising raw material, energy and transportation costs, according the company, which points out that “certain tyre prices may rise in excess of 6 per cent due to realignment and positioning of the product.”

10th May 2010/by Tyrepress Editors