Nokian Heavy Tyres Negotiating Production Cutbacks

Nokian Heavy Tyres Ltd reports that on January 20 it commenced new statutory negotiations in order to adjust heavy tyre manufacturing and inventories in line with decreasing demand for the products. The negotiations include a plan to change the work pattern used in heavy tyre production and to reorganise operations. Such plans and production adjustments will lead to 50 staff being made permanently redundant, and another 230 being laid off until further notice, or for a certain period.