Wed September 20 11:00 pm 2017 in category Company news

Nokian Tyres breaks ground on $360 million manufacturing facility in Tennessee

Tennessee Gov. Bill Haslam joined Nokian Tyres’ leadership team for the celebration

Dayton, Tennessee - Nokian Tyres today broke ground on its $360 million manufacturing facility in Dayton, Tennessee. Nokian Tyres CEO Hille Korhonen, is joined by Tennessee Governor Bill Haslam as well as other state and local dignitaries, to celebrate Rhea County’s largest foreign direct investment to date.“Nokian Tyres’ $360 million investment in the Dayton facility is another direct measure of our ‘Investing in North America’ strategy and reflects our commitment to our customers and the growing consumer demand for our products in North America,” said Hille Korhonen, CEO, Nokian Tyres. “With increased plant capacity we will be able to add new North American specific products, reduce delivery times and strengthen our overall ability to serve our customers throughout the US and Canada.”

Nokian Tyres breaks ground on $360 million manufacturing facility in Tennessee

"We have worked hard to create the best possible environment for job creation, which helped attract Nokian Tyres to Tennessee,” Gov. Bill Haslam said. “It's exciting to officially break ground today on the company's new manufacturing facility in Dayton that will create hundreds of jobs for Rhea County. We appreciate Nokian Tyres for investing in our state."

During the ceremony, Korhonen reaffirmed the company’s ambition to doubling sales in the next five years within North America. She also highlighted Nokian Tyres’ goal to lead the tyre industry in sustainable manufacturing as well as making sure the company is the employer of choice within the greater communities it serves.

In addition to the ground breaking ceremony, Korhonen will be meeting with Nokian Tyres’ customers, hosting a reception for the local community, as well as speaking with students from Rhea County High School to share her experiences and talk about continuous learning. Korhonen was appointed CEO and president of Nokian Tyres by colleagues on the tire maker’s board of directors, serving in this role since June 1, 2017.

More about the Dayton manufacturing facility

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.

The plant will create up to 400 new jobs in Rhea County, Tennessee, with about half of the total investment flowing into the local economy.

The announcement marks another step forward for Finland-based Nokian Tyres in North America, as the manufacturer continues to lay the foundation for growth through investments in its people, products, customers, marketing, and logistics.

Nokian Tyres is known for its high-quality and innovative products. The Nokian Hakkapeliitta is one of the best-known winter tire brands.

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: www.nokiantires.com/daytonfactory

Nokian Tyres, Inc. / Nokian Tyres Canada Inc.
P.O. Box 623
Essex Junction, VT 05453
1-800-565-2525

Email: northamerica@nokiantyres.com

Twitter: https://twitter.com/nokiantyresna

You Tube: https://www.youtube.com/nokiantyresna

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Google Plus: https://plus.google.com/116952652773953497604/posts

Source:

Hans Dyhrman
Director of Marketing, Nokian Tyres, Inc.
Hans.Dyhrman@nokiantyres.com