BKT announced in its first-quarter fiscal 2020 financial document that it is halting plans for its US factory. Little detail was given as to why, other than uncertain economic conditions. The company revealed its plans to build the US$100m plant, which would be its first outside of India, in November last year.
While Europe is presently BKT’s largest sales market, accounting for more than half of the company’s overall turnover, the Americas has become an increasingly attractive market for the tire maker. As such, BKT decided to establish a subsidiary in the US to construct the facility, which would produce 20,000 metric tons of off-road tires. Completion was originally scheduled for March 21, 2021.
