Wed May 3 03:57 pm 2017 in category Company news
Nokian Tyres announces construction of first North American manufacturing facility to be built in Tennessee
Colchester, Vermont - Nokian Tyres, the world’s northernmost tire manufacturer, announced it is investing $360 million to build its first North American plant in Rhea County, Tennessee. Nokian Tyres will break ground on the Dayton, TN plant in early 2018 with production launching in 2020.
The new plant will service customers across the United States and Canada, concentrating on the production of North American-specific car and light truck all-season tires. The Tennessee location will increase production and warehouse capacity allowing Nokian Tyres to meet the increasing demand throughout North America.
The new plant will be capable of producing four million tires annually with the room for expansion to meet future demand. The site will also house a distribution facility with a storage capacity of 600,000 tires.
“In addition to increased capacity, the Dayton, TN site’s proximity to North American customers will shorten lead and delivery times,” said Tommi Heinonen, head of Nokian Tyres North America. “It’s our goal that the new plant will help us better serve our growing customer base throughout the U.S. and Canada by improving customer service and efficiencies.”
The plant will create up to 400 new jobs in Rhea County, Tennessee, with about half of the total investment going flowing into the local economy.
“This is a significant announcement for both the state of Tennessee, as well as the city of Dayton,” said Bill Haslam, Governor of Tennessee. “It showcases how our state’s ideal location and strong workforce creates an environment where companies like Nokian Tyres will thrive and succeed.”
The announcement marks another step forward for Finland-based Nokian Tyres in North America, as the manufacturer has seen strong year-over-year growth in both Canada and the U.S. and recently increased its warehouse capacity with the opening of its Montreal-area distribution center.
Nokian Tyres is known for its high-quality and innovative products. The Nokian Hakkapeliitta is one of the best-known winter tire brands.
A conference call regarding Nokian Tyres Q1 result and the factory decision will be held on May 3 at 11 a.m. (EDT). Please dial in 5-10 minutes before the beginning of the event: US Dial-In: +1 855 716-1597
About Nokian Tyres
Nokian Tyres is the world's northernmost tyre manufacturer. The company promotes and facilitates safe driving in demanding conditions. It supplies innovative tyres for cars, trucks and special heavy machinery mainly in areas with special challenges on tyre performance: snow, forests and harsh driving conditions in different seasons. Nokian Tyres’ product development is consistently aiming for sustainable solutions for safety and the environment, taking into account the whole life cycle of the tyre. A part of the Nokian Tyres group, the tyre chain Vianor has over 1,500 outlets in 27 countries. In 2016, Nokian Tyres had approximately 4,400 employees and net sales of approximately $1.5 billion. (EUR 1,4 billion.)
About the Tennessee Department of Economic and Community Development
The Tennessee Department of Economic and Community Development’s mission is to develop strategies which help make Tennessee the No. 1 location in the Southeast for high quality jobs. To grow and strengthen Team Tennessee, the department seeks to attract new corporate investment in Tennessee and works with Tennessee companies to facilitate expansion and economic growth. Tennessee is the only three-time winner of “State of the Year” for economic development by Business Facilities magazine. Find us on the web: tnecd.com. Follow us on Twitter: @tnecd. Like us on Facebook: facebook.com/tnecd.
For further information:
Nokian Tyres, Inc. / Nokian Tyres Canada Inc.
P.O. Box 623
Essex Junction, VT 05453
You Tube: https://www.youtube.com/nokiantyresna
Google Plus: https://plus.google.com/116952652773953497604/posts
Director of Marketing,
Nokian Tyres, Inc..