Nokia, Finland – Nokian Tyres is to build a $360-million (€330 million) production facility in Dayton - Rhea County - Tennessee, US, the Finnish tire maker announced 3 May.
In its first quarter report, Nokian said its board of directors has made a principal decision on the investment and authorised the management of the company to sign a letter of intent with the respective authorities in the US.
The new factory will produce 4 million tires a year with an expansion potential in the future. The company did not specify what types of tires will be produced at the facility.
Construction is scheduled to begin in early 2018, with the first tires to be rolled out in 2020.