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Finland's Nokian Tyres plans to build $360 mln plant in U.S.
May 3, 2017 / 5:22 AM / 7 months ago

Finland's Nokian Tyres plans to build $360 mln plant in U.S.

HELSINKI, May 3 (Reuters) - Finland’s Nokian Tyres said on Wednesday it had decided to build a new factory in the United States to boost growth outside Europe, while it reported rising quarterly profits on the back of growing sales in Russia.

Nokian, which currently has a large plant in Russia and a smaller one in Finland, said the new greenfield plant with an annual capacity of 4 million tyres will be in Dayton, Tennessee.

The total investment is about $360 million and the construction is scheduled to begin in early 2018.

$1 = 0.9146 euros Reporting by Jussi Rosendahl; Editing by Stephen Coates

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