Nokian Tyres seeks to gain traction in North America with new factory [Reuters]
NOKIAN TYRES PLC UNSP/ADR (NKRKY)
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Source: Reuters
Nokian Tyres seeks to gain traction in North America with new factory - Reuters 2 Min Read HELSINKI (Reuters) - Finnish tire maker Nokian Tyres expects its new U.S. factory in Tennessee to help it double its sales in North America, especially by expanding its all-season tire sales in the region, the company said on Thursday. The company, which has previously concentrated mostly on winter tire sales in Russia and Europe, said the new facility would allow it to seek growth in the significantly larger all-season tire market in North America. Two years ago Nokian, which currently has a large plant in Russia and a smaller one in Finland, announced an investment of $360 million in the new production facility in Dayton, Tennessee, set for startup in the latter half of this year. “Our goal is to double our sales in North America within five years,” the company’s chief executive Hille Korhonen told reporters in Helsinki. Last year, Nokian’s North American sales amounted to 194.5 million euros
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