On July 9, 2015, according to people familiar with the matter, the Nexans Qingdao plant from South Korea is currently out of production due to lack of market demand.
Qingdao Nikesen Tire Co., Ltd. was established by South Korea Nexen Tyre Co., Ltd. The company has a total investment of 500 million US dollars. After the completion of the plant, it will reach an annual production capacity of 21 million semi-steel radial tires. The factory is located on the east side of Yanqing First Class Highway, covering an area of ​​860 mu and a building area of ​​300,000 square meters. It is the largest foreign investment project that has settled in Lacey City so far.
South Korea Nexans Tyre Co., Ltd. is one of the three largest tire manufacturers in Korea and is headquartered in Liangshan City, Gyeongsangnam-do, South Korea. President Jiang Bingzhong is the president of the Busan Chamber of Commerce and Industry in South Korea. The project is the fourth foreign-invested company established by the South Korean Nexans series in Laixi (the first three are Qingdao Xingya Tire Co., Ltd., Qingdao Nikesen Rubber Co., Ltd. and Qingdao Nikesen Denso Co., Ltd.).
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