Nokian Begins Lay-off Negotiations

Today Nokian Tyres began the statutory negotiations for the lay-off of some personnel as well as for possible dismissals of around 100 employees, working at the car tyre production facility in Nokia, Finland. The aim of the procedure is to adjust the car tyre production to suit current tyre demand and inventories.

The possible lay-off, taking a maximum of four weeks, concerns all personnel working at the Nokia factory – a total of approx. 1,200 people. The possible lay-off does not concern personnel working for the Nokian Heavy Tyres profit centre or the company’s Russian operation.

The procedure does not change company’s statement of 3 November 2005 regarding the sales and profit development for the year 2005.

Nokian Tyres will publish the results of the statutory negotiations as soon as they are finalised