Nokian Looks to Inflate Prospects in Shifting Tire Market

China 2820 Cons. Discr. - Autos 1074 France 145 Japan 559 South Korea 538

Finnish tire-maker Nokian has announced plans to open a manufacturing facility in the U.S. to produce all-season tires. This move is likely driven by the rapid reduction in Chinese seaborne imports, which shrunk by 27.2% year over year in the first quarter, after antidumping duties were applied. Suppliers from other countries have jumped in to fill the void. Nokian faces competition from Hankook, up 5.7% year over year, while European manufacturers Pirelli and Michelin increased their shipments by 17.6% and 10.2% respectively. Benefits for Nokian include a rapid increase in tire shipment...

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