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Mississippi Wins $900-Mil Nissan Plant

CANTON, MI-The auto maker plans to produce sport-utility vehicles and pickup trucks for the North American market. The work force will total about 4,000. Analysts say the deal means Nissan's fiscal woes are over.

By Judith Schonbak | Updated on November 22, 2000

CANTON, MI-Mississippi won a factory–a $900 million factory which will employ 3,000 to 4,000 people. The plant will be built in central Mississippi, near Canton in Madison County, about 20 miles north of Jackson, the capital. Nissan Motor Co. plans to produce sport-utility vehicles and pickup trucks for the North American market.

Japan’s number three automaker is after higher North American sales, its largest market, which currently accounts for 30% of sales compared with 25% in Japan so far this year. Industry observers suggest the new plant is a sign that Nissan’s financial troubles are behind it.

The company reported a profit for the first half of this year, its second profitable period in nine years. Its U.S. sales have increased in 12 of the last 13 months. Last year, the Japanese automaker accepted financial help from Renault SA, which took a 37% controlling stake in the company.

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