Nokian Sells Bicycle Tyre Business

Nokian Tyres has confirmed that it has sold its factory premises in the town of Lieksa for a total of 3.6 million euros. The Finnish company sold the bicycle tyre business to Suomen Rengastehdas Oy. According to Nokian, the new owners took over the management of the plant straight away and will provide contract-manufacturing services to Nokian. All personnel, a total of 59 employees, are to keep their jobs working at the Bicycle Tyres profit centre and in heavy inner tube manufacture.

Suomen Rengastehdas Oy is a subsidiary of Suomen Kumitehdas Oy. The companies are engaged in the manufacture of bicycle tyres, rubber boots, footwear and other rubber products, and in the reprocessing of rubber. The principal owners of the companies are Mr Arto Huhtinen and Mrs Tuire Erkkilä, both previously members of Nokian Jalkineet Oy’s (Nokian Footwear) management.

In 2003 the Lieksa plant manufactured 784,000 bicycle tyres and inner tubes.