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BRIEF-Tyre maker Nokian plans to build a new factory in U.S.
May 3, 2017 / 5:02 AM / 5 months ago

BRIEF-Tyre maker Nokian plans to build a new factory in U.S.

May 3 (Reuters) - NOKIAN TYRES PLC

* NOKIAN TYRES’ BOARD OF DIRECTORS HAS MADE A PRINCIPAL DECISION TO INVEST IN A GREENFIELD FACTORY IN THE USA

* NOKIAN TYRES PLC - TOTAL INVESTMENT AMOUNT AT THIS PHASE IS APPROXIMATELY USD 360 MILLION

* NOKIAN TYRES PLC - BOARD OF DIRECTORS HAS MADE A PRINCIPAL DECISION ON INVESTMENT IN THIRD FACTORY

* SAYS ANNUAL CAPACITY OF FACTORY WILL BE 4 MILLION TYRES WITH AN EXPANSION POTENTIAL IN FUTURE

* CONSTRUCTION IS SCHEDULED TO BEGIN IN EARLY 2018 AND FIRST TYRES ARE TO BE PRODUCED IN 2020

* SAYS TOTAL INVESTMENT AMOUNT AT THIS PHASE IS APPROXIMATELY USD 360 MILLION

* SAYS CONSTRUCTION IS SCHEDULED TO BEGIN IN EARLY 2018 AND FIRST TYRES ARE TO BE PRODUCED IN 2020 Source text for Eikon: Further company coverage: (Helsinki Newsroom)

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