News from Notch Consulting, Inc.

August 14, 2019

BKT suspends plans for US tire plant

Filed under: Tires — Notch @ 3:38 pm

Tire Business reports that Balkrishna Industries Ltd. (BKT), an Indian producer of OTR tires, is suspending its plans for a U.S. tire factory, citing “business uncertainties” related to difficult macroeconomics and the “volatile” climate conditions. BKT announced plans to invest $100 million in a new tire plant in the US last October.

Nexen to inaugurate new Czech tire plant

Filed under: Tires — Notch @ 3:34 pm

Korea’s Nexen Tire will hold an opening ceremony for its new $1 billion tire plant in the Czech Republic on August 28. The plant, located in the Triangle Strategic Industrial Zone in Zatec, began trial production in April and recently began supplying customers. The 7 million-sq.-ft. factory had 3 million units of capacity at start-up and is expected to increase to 11 million by 2022. The Czech deputy minister of industry and trade, Petr Očko, is expected to join Nexen CEO Travis Kang and Chairman Byung-Joong Kang at the plant’s ceremonial opening on Aug. 28, Nexen said.

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