Nokian Tyres is “preparing for the future” by purchasing three hectares of land near its factory in Nokia, Finland – but it says this site won’t be home to its planned European manufacturing facility. The tyre maker says the property’s location in the immediate vicinity of its factory and headquarters “enables synergies in future development projects.”
The Serbian state is set to give Japanese tyre manufacturer Toyo 637,455 square metres of land worth roughly 3 million euros for its newest factory. According to a Serbian State Aid Control Commission decision, the countries Tax Administration calculated that – based on a land valuation of 5 euros per square metre, Toyo will have to employ 523 workers indefinitely by 2023.
With the purchase of 32 hectares of land in the Romanian city of Timişoara, Continental aims to expand its storage capacity and optimise the overall cost of its logistics. The land was purchased from the UMT and Prompt groups for an undisclosed sum and is located close to the Continental tyre factory within the city.
Sumitomo Rubber USA has bought 6.4 acres of brownfield land adjacent to its tyre manufacturing site in Tonawanda. According to the New York State-based Buffalo News, Sumitomo’s new land used to be home to a chemical plant that was destroyed by a fire nearly 30 years ago.
Michelin North America and the municipality of the County of Kings, Nova Scotia, have agreed the sale of about 50 acres of land in Waterville to the tyre manufacturer for a reported sum of nearly $1.9 million.
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