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Nokian Kazakh Tyre JV Will Export 5%

At least 5 per cent of Nokian’s Ordabasy-Nokian Tyres Kazakhstan joint venture tyre production plant will be exported. According to the Ordabasy Corporation manager in charge of joint venture projects, Adilkhan Umerbayev, some of this 5 per cent will be exported to EU countries. The joint venture will see a 4 million unit capacity passenger car tyre plant constructed in the Central Asian state by 2009, the Ordabasy executive explained in a report published by the Reuters news agency.

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De Klok Promotes Delfin Brand to Essen Visitors

De Klok Banden BV, one of the largest tyre wholesale businesses in Holland, will be exhibiting its range of exclusive brands on its show stand in Essen (Hall 3:330). In addition to dealing with all the well-known names, De Klok operates as something of an exclusive brand specialist, distributing: Accelera, GT Radial, Nankang and Nokian tyres. According to the company special attention will be paid to the promotion of the Delfin private brand to show visitors.

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Fifth Vianor Tyre Retail Franchise to be Opened in Kazakhstan

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Finland-based tyre manufacturer, Nokian Tyres, is planning to open a new Vianor retail outlet in the city of Almaty, Kazakhstan. The heads of Nokian Tyres Kazakhstan LLP are expected to take part in the shop’s opening ceremony which is scheduled for 15 April. The new retail business will be owned by a local partner and run as a Vianor-branded retail franchise. According to a Nokian, the opening of the latest store brings the total number of Vianor stores in Kazakhstan to five – situated in the cities of Aktobe, Almaty, Astana, Karaganda and Kostanay.

Speaking on behalf of Nokian Tyres, e-Communications manager Anssi Mäki explained the thinking behind the retail expansion: “The goal is to have [a total of] 15 partner outlets in the big cities by the end of 2008 and continue growing also after that.”

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Cooper and BFNAT Issue Recalls

Cooper Tire & Rubber Co.’s recent recall of 48,037 light truck radials includes private brand and off-take models produced for and sold by TBC, American Car Care Centers, Nokian Tyres and Sure Tire. The NHTSA issued supplemental recall notices last week including the four brands. In addition, NHTSA announced a recall of a small quantity of truck tyres produced by Bridgestone/Firestone North American Tire.

The Cooper Tire recall impacting its private brand and off-take customers covers LT265/75R16 Load Range E tyres. For Sure Tire, the recall covers 295 of its Summit Trail Climber AT tyres produced between December 9 and December 15, 2007. For TBC, it covers 17,014 of its Wild Country Radial STX Sport and Wild Trac Radial LTR produced between December 2, 2007 and February 2, 2008. For ACCC, it covers 1,018 of its American Prospector A/T produced between December 2, 2007 and February 2, 2008. For Nokian, the recall covers 931 tyres produced between December 2, 2007 and February 8, 2008.

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Nokian Awards Contract for Russian Factory Enlargement

Nokian Tyres has awarded the contract for constructing an additional extension to its Russian facility near St. Petersburg, with work to commence immediately. According to a company press release the 24,500 square metre construction should be ready by March 2009, with the administration facility completed the following November. Earthmoving work necessary for construction began last November.

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Nokian JV Facility in Kazakhstan Granted Funding Approval

Investment funding for the planned Ordabasy joint venture in Kazakhstan, the product of cooperation between Nokian Tyres and Kazakhstanian multi-industrial company Ordabasy Corporation JSC, gained approval from the Development Bank of Kazakhstan during its sitting on March 28. The Development Bank, formed in 2001, is responsible for providing credit to medium-term and long-term projects in non-primary sectors of the national economy.

Establishment of the Ordabasy facility is anticipated to cost 160 million euros, and will have an annual capacity of four million tyres when complete.

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Increase In Share Capital For Nokian Tyres

An increase in the share capital of Nokian Tyres, totalling 186,884 euros, was entered into the Trade Register on February 26, 2008.

The shares will be traded on the Helsinki Exchanges together with the old shares as of February 27, 2008. After the increase, Nokian Tyres plc’s share capital stands at 24,926,140.00 euros.

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Nokian to Install Three New Production Lines in Russian Factory

Finnish manufacturer Nokian Tyres has disclosed plans to add three extra production lines to the company’s Vsevolozhsk facility in Russia rather than the previously announced two. Chief executive Kim Gran told media on February 13 that “we are contemplating adding the third line during the second half of this year,” adding that the third line’s addition was more than 80 per cent definite and would cost some 20 million euros.

If all three lines are built the company will have seven production lines operating in Russia by the end of the year, and Gran believes the demand exists to justify their addition. “We could have grown even faster last year if we had had more capacity,” he said.

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Nokian Annual Results Show Increased Sales & Profits

Nokian Tyres reports that its net sales increased 22.6 per cent during 2007 to 1.025 billion euros. During this period the company recorded an operating profit of 234 million euros, a 52.8 per cent rise on that of the previous year. During the year earnings per share also increased 55.7 per cent from 0.88 euros to 1.37 euros, and profit for the period was 168.9 million euros, up 57.4 per cent from 107.3 million euros a year earlier.

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Nokian’ Kim Gran Nominated to YIT Board

Nokian Tyres president and CEO Kim Gran has been nominated to the board of directors of Finnish building systems and construction services company YIT Corporation. Mr. Gran has served in his current capacity at Nokian since 2000; prior to that he acted as Nokian Tyres’ vice president (1995 to 2000) and in the UK as managing director of Pechiney Cebal between 1992 and 1995.

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  1. Nokian Tyres: Czech Republic for New Plant
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Premium tyre manufacturers taking the lead in Russia

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It is apparent that the Russian tyre market is one of the most vibrant and emerging in Europe. Not only is this market, with a volume of 40 million passenger car tyres (replacement market) among the largest of the world (and soon will even overtake the German tyre market, traditionally Europe’s strongest), the position of market players in the competitive environment that is the Russian tyre market is changing, and new players are taking over from the well-established. While Russian tyre manufacturers are struggling to position themselves and their products in the profitable branded market segments, companies such as Nokian Tyres and Continental, along with Bridgestone, Michelin and Goodyear continue to dominate the game with their premium and secondary tyre brands (e.g. Gislaved from Continental). These manufacturers are successful in increasing their relevance to the Russian tyre market to a large extent because they benefit from controlled distribution, as the example of Nokian shows.

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Hakkapeliitta Truck E Points to New Truck Tyre Range

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Nokian Tyres introduced the Hakkapeliitta Truck E a new tyre for trucks and buses, designed for the most demanding winter conditions. This new winter drive tyre is also the first member of the Nokian Hakkapeliitta Truck product family. The tyre’s tread design features more than 1,100 efficient transverse sipes, forming a dense network that helps maximise grip. The tyre is also equipped with special sipe activators that are very sensitive to the road surface and rapidly activate the sipes, particularly in changing temperatures and road conditions.

“Nokian Hakkapeliitta Truck E is the result of years of intensive work; it’s a new-generation product that combines the excellent grip and resistance properties that professional drivers value very highly,” says Teppo Siltanen, Product Manager, Nokian Truck Tyres. Development work drew on the experiences of the highly commended Nokian Noktop 41 traction surface and the Nokian NTR-817 truck tyre.

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Nokian Expands Winter Tyre Range

Nokian Tyres is adding three new products to its winter tyre line-up in the Nordic countries and Russia. The company’s latest winter tyre for passenger cars is the studless Nokian Hakkapeliitta R, and the Finnish manufacturer also intends to further the range with a version designed for 4×4 vehicles. The company’s traditional Hakkapeliitta range is also venturing into new territory: the Nokian Hakkapeliitta Truck E winter traction tyre is the first product in this range to cater for the truck and bus segment.

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66 Million Additional Euros Earmarked for Nokian’s Russian Facility

Russia’s AK&M Information Agency reports that investment in the second stage of the Nokian Tyres facility in Vsevolozhsk, St Petersburg will this year be increased by 66 million euros. Total investment in the project, which will double the factory’s output to 10 million units per year by 2011, is expected to reach 195 million euros.

Stage one of the project required an investment of 155 million euros and production at the facility began in June 2005. Plant production reportedly covers 27.4 per cent of Russia’s output. In 2006 the factory’s net profit rose 30.5 per cent to 107.3 million euros, with net sales increasing 21.8 per cent to 835.9 million euros.

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  4. Foundations laid for new Kazakhstan Tyre Factory
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Tofan Seeks Investment for Danubiana

High profile Romanian businessman Gelu Tofan, head of the Tofan Group, is reportedly seeking international capital for his Danubiana tyre business, one of the country’s largest tyre manufacturers. Tofan’s hope for the Group, in administration since December 2006 as a result of debts amounting to around 17 million euros, is that once the administration process is completed a North American investment fund will come on board as a shareholder. The Tofan Group is apparently working with consultants PriceWaterhouseCoopers to negotiate a deal.

“We are still under administration, a process which should have ended in December last year. I hope I will be able to finish restructuring the business in the first quarter of this year, and that we can start investments, private funds meant to help develop Danubiana,” said Tofan.

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