Nokian Tyres
A groundbreaking ceremony held today marked the start of construction work on a new testing and technology centre being set up by Nokian Tyres in Spain. Festivities to celebrate the occasion were held at the site in Santa Cruz de la Zarza. Nokian Tyres anticipates the completion of the first test tracks next year ahead of the technology centre attaining full operational status in 2020.
Worn tyres find use in many applications – they may serve as playground swings or as fenders on a wharf. They’re often invisible in plain sight, however Nokian Tyres intends to take advantage of their ubiquity. The tyre maker has placed tyre safety information on repurposed old tyres all around its home market of Finland.
A decision has been made on the 89.2 million euros that Nokian Tyres was ordered to pay in additional taxes and punitive tax increases for the 2007 to 2010 tax years. Finland’s Administrative Court has entirely overturned the tax reassessment decisions made by the country’s Board of Adjustment and has additionally ordered the Tax Administration to pay Nokian Tyres 40,000 euros in legal costs.
Although held back by exchange rate effects, net sales at Nokian Tyres were higher in the first three months of 2018 than a year earlier. Sales were up 3.1 per cent to 336.0 million euros; had the exchange rate effect been neutral, the tyre maker estimates that net sales would have increased 9.3 per cent year-on-year. Nevertheless, Hille Korhonen, president and chief executive officer of Nokian Tyres, referred to the result as “a good start of the year.”
Anne Leskelä, Nokian Tyres’ chief financial officer and vice-president of Finance and IR, announced today her resignation from the company. She will continue in her position until the beginning of July 2018, and the Finnish tyre maker reports that the recruitment process to find a new chief financial officer will commence immediately.
From June 2018, Päivi Antola will take on the role of vice-president of Investor Relations & Corporate Communications at Nokian Tyres. She is joining the Finnish tyre maker from Amer Sports Corporation, where for the last eight years she has served as head of Corporate Communications and Investor Relations.
Nokian Tyres has appointed Mark Earl vice-president of its Americas business area. He will start in this position on 1 May 2018 and report to Hille Korhonen, the tyre maker’s president and chief executive officer.
Nokian Tyres has published its Annual Review and Financial Review 2017 and Corporate Sustainability Report 2017.
The latest winter product from Nokian Tyres is a new range for sport utility and crossover vehicles. Called the Nokian WR SUV4, the tyre was developed with a focus upon handling on slushy roads as well as solid performance in suddenly changing weather conditions. The new tyre is offered in H, V and W speed rated versions and a total of 57 dimensions for 16- to 21-inch rim diameters. Retail sales of the Nokian WR SUV 4 will begin in autumn 2018.
Nokian Tyres recently received the Bronze Class distinction in the Auto Components category of the RobecoSAM Sustainability Yearbook 2018, which was published last week. RobecoSAM is an expert on sustainability whose annual assessment is considered to be a particularly reliable and comprehensive report of how sustainability is implemented in companies around the world.
Van and campervan tyres can lead hard lives. The vehicles they are fitted to are often driven fully loaded on poor roads and gravel surfaces. The tyres must bear the entire weight of the vehicle and provide safe and stable handling under all conditions. To give these products more strength, Nokian Tyres is now introducing its Aramid Sidewall technology into all Nokian van and campervan product lines. From 1 January 2018, it is present in the Nokian WR C3, cLine Van, cLine Cargo and Weatherproof C ranges. Nokian SUV tyres have been manufactured with aramid sidewalls for several years now, and in addition to the abovementioned products the material can be found in 15 Nokian tyre lines.
Nokian Tyres has created a new management position, senior vice-president, People & Culture, and has appointed Tytti Bergman to this role. Ms Bergman will commence on 16 April 2018 and report directly to Hille Korhonen, president and chief executive officer of Nokian Tyres.
Four entirely new Nokian winter tyre ranges are to be introduced in time for the colder months in 2018/19. These lines will start shipping to retailers in spring, with a large size portfolio available to consumers this coming autumn.
Through an investment of around 70 million euros in its factory in Nokia, Finland, Nokian Tyres group company Nokian Heavy Tyres Ltd. will increase its production capacity by 50 per cent over the coming three years. The maximum capacity for heavy tyre production will grow from approximately 20 million kilogrammes a year to 32 million kilogrammes. Alongside this capacity boost, approximately 50 additional people will be hired for the production of heavy tyres.
Over the years, we’ve known Nokian Tyres primarily for its activities in the replacement tyre market. Nevertheless, the Finnish manufacturer has also cooperated with vehicle manufacturers and is working towards increasing the share of its turnover earned in the original equipment segment. It has now announced a BMW Group approval – the Nokian WR D4 will be fitted as an original equipment winter tyre on the BMW X1.
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