Nexen Tire

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Nexen Tire Corporation
Type Public (KRX: 002350)
(traded on the Korea Stock Exchange)
Founded 1942
Headquarters Yangsan, South Korea
Key people CEO Kang Byung-joong
Revenue Increase US$ 1.68 billion (2013)[1]
Operating income Increase US$ 172  million (2013)[1]
Net income Increase US$ 120 million (2013)[1]
Total assets Increase US$ 2.25 billion (2013)[1]
Total equity Increase US$ 0.78 billion (2013)[1]
Employees 3,998 (2014) non-consolidated in Korea
Website http://www.nexentire.com

Nexen Tire (Korean: 넥센타이어) Corporation is a tire manufacturer, headquartered in Yangsan, South Gyeongsang Province, and Seoul in South Korea. Its major domestic competitors are Hankook and Kumho. The company's name is reflected in the company slogan, "Next Century Tire."

Established in 1942 under the name, Heung-A Tire Company, Nexen Tire Co. has served the industry for the past 71 years. They were recognized in 1956 as the first Korean tire company. In 1985, Nexen dedicated a facility in Yangsan, Korea, to the production of radial tires.

The company changed their name in 2000 from Woosung Tire to Nexen Tire Corporation. The name Nexen is a combination of two future-oriented words; next and century. That same year also saw Nexen Tire listed on the KOSPI 200 Index future market.

In 2005, Nexen Tire was awarded a patent for the technology to manufacture rubber/stratified silicate nano-composite tires. By 2006, they had completed development on the new UHP and Winter LTR/SUV pattern. To accommodate increased global demand for the Nexen brand, they opened yet another tire manufacturing plant in Qingdao, China in 2007. Nexen's domestic market share increased from 8% to 20%, with annual sales exceeding $600 million. Nexen employs over 2,000 employees. Nexen Tire currently exports to 120 countries. [2]

Products[edit]

N2000, N3000, N5000, N7000, and N8000, NFERA SU1, NFERA RU5, CP661 and more than 30 other passenger car and light truck tires.

See also[edit]

External links[edit]

References[edit]

  1. ^ a b c d e "Nexen Tire Corporation (002350:Korean Stock Exchange)". businessweek.com. Retrieved May 15, 2014. 
  2. ^ http://www.nexentireusa.com/about Nexen Tire Web site