Nokian And Amtel Sign Joint Venture Agreement

Nokian and Russian company Amtel Holdings have formally signed the joint venture agreement to produce and sell passenger and light truck tyres in Russia and CIS countries under the Nordman and Amtel brands. 900,000 tyres will be produced next year and 3,600,000 the year after. Upgrades of Amtel factories will require investments of US$ 25 million and the two partners intend to build a greenfield factory in Russia to produce premium tyres under the Nokian brand.

The target is an annual production of 1.2 million tyres within three years of the start of the project..