Nokian to Sell Car Retreading Business

Nokian Tyres Corp has announced that its tyre chain, Vianor AB, has signed a letter of intent to sell its car tyre retreading business to another Swedish company, Mac Ripper AB. The company has not disclosed any financial details pertaining to the deal. In a report published by the AFX news agency, Nokian suggested that Vianor sold the retreading business in order to concentrate on new car and truck tyre sales, tyres. Following the news of the sale, shares in Nokian tyres fell 1.63 per cent to 110.17.