Nokian Tyres
Nokian Tyres has donated 200,000 euro to Aalto University School of Business in Finland. The donation will fund Nokian Tyres and Jukka Moisio scholarships for masters students going on exchange programs abroad. The funds will be donated in two equal instalments in 2024 and 2025. The donation marks president and CEO Jukka Moisio’s impending retirement from the board of directors of the Finnish tyre maker.
Nokian Tyres’ annual general meeting elected Jukka Hienonen as chair of the board of directors and Pekka Vauramo as deputy chair among other appointments. At the AGM, the Nokian Tyres board appoints from among its members a minimum of three Committee members, one of which acts as the chair of the Committee. Meetings are also attended by the company’s CEO and CFO and the person acting as secretary appointed by the committee. The board also decided to establish the Boards Investment Committee, a group focusing on strategic investments to maximise shareholder value. The board also elected members to its People and Sustainability Committee, Audit Committee, and Investment Committee.
Nokian Tyres has released its financial results for the first quarter of 2024, showcasing a resilient performance despite several challenges. The company reported net sales of 236.6 million euros for the period spanning January to March 2024, largely unchanged from the 236.4 million euros in the same period last year. When adjusted for comparable currencies, net sales saw a modest increase of 1.4 per cent.
Nokian Tyres has published its Sustainability Report 2023. This document, which has been prepared in accordance with the GRI Standards and is assured by an independent third party, describes Nokian Tyres’ sustainability actions and results in 2023 in terms of product liability and safety as well as environmental and social responsibility.
The Board of Directors at Nokian Tyres has initiated the process of finding a successor for Jukka Moisio, who intends to retire from his position as President and Chief Executive Officer during 2024. Nokian Tyres issued a statement yesterday confirming this upcoming change to its management, but did not name the exact date he would leave the company.
Nokian Tyres is adjusting production at its Nokia passenger car tyre factory in Finland for “at least two weeks”. However, based on recent negotiations the production employees can be laid off due to financial and production related reasons for a maximum period of 90 days. The lay-offs result from “ongoing political strikes affecting ports and transportation in Finland”, according to the company. Nokian reports that that wider environment has led to “Nokian Tyres’ inventories of tyres filling up, as the company is unable to deliver tyres to its customers”.
CDP has given Nokian Tyres an A- for its actions towards reducing greenhouse gas emissions and mitigating climate change-related risks. This is the fourth consecutive year that CDP has awarded Nokian Tyres an A- for its work in this area, and the Finnish company notes that scores of A and A- in the annual CDP Climate Change report represent “leadership level.”
Nokian Tyres says it has “improved” its all-season Noktop 21 truck tyre. The drive-axle pattern gains a new look and new features for 2024 while retaining its “time-proven” rubber compound, tread pattern and two-layer cap/base structure. Nokian Tyres Noktop 21 now comes in a broader width range of 240–280 mm and has added stud holes for every width, clear product markings for identification as well as the 3PMSF marking as proof of safe winter use.
Yesterday the European Commission announced it was “carrying out unannounced inspections at the premises of companies active in the tyres industry in several Member States.” So far, we’ve learned that Bridgestone, Continental, Goodyear, Michelin, Nokian Tyres, and Pirelli received visits from EC officials.
Nordic Tyres and GB Tyres have further expanded their team with the appointment of a new Business Development Manager, Andy Bray. Located in Lincolnshire, Andy will be covering the south-east of England for Nordic Tyres and GB Tyres.
More and more tyre manufacturers are adding individual EV logos to their product sidewalls, regardless of their decision to develop specialist tyres for the burgeoning market or make tyres they consider compatible with the needs of electric cars. Goodyear recently presented a corresponding label, products from Continental are “EV Compatible”, Pirelli tyres contain “Elect”, and “E+”. can be found on relevant Yokohama tyres. While Nokian Tyres introduced a so-called “Electric Fit” symbol, intended to indicate its tyres’ suitability for electric vehicles, last summer, the marking remains absent from its most recent products’ sidewalls. Surprisingly, even the supplier’s very latest products, the Powerproof 1 and Wetproof 1 summer car tyres, the “Electric Fit” designation cannot be seen on the sidewall or anywhere else. With Nokian Tyres claiming that all of its consumer tyres are suitable for electric vehicles, Tyrepress sister website Reifenpresse asked what this was all about.
Nokian Tyres has added three new dimensions to its Tractor King line-up, a range it developed for forestry, earthmoving and road construction applications. The latest sizes are a 600/65R28 front axle fitment and 710/70R38 and 800/70R38 for the rear axle.
Ian Black-Moore has joined Nordic Tyres and GB Tyres as the Business Development Manager for the South-West of England and Wales. He brings over twenty years of combined experience within the tyre and agriculture trades to the role.
Russian motorists can still purchase Nokian tyres, but the brand’s days are numbered in this market. After energy company Tatneft acquired Nokian Tyres’ local assets, it renamed the operation Ikon Tyres and began producing tyres under the Ikon name in June 2023. Ikon Tyres says the process of updating tyre sidewall moulds has taken several months, but it started the volume production of rebranded summer tyres in December. This means that all products that dealers sell from Spring 2024 will carry the Ikon name instead of Nokian.
Nokian Heavy Tyres has entered into a “new era of cooperation” with German retreader RuLa-BRW, which will use the tyre maker’s “innovative Noktop retreading material” in its pre-cure retreading process and offer these tyres to customers in the German market. In addition, RuLa-BRW states that it agreed upon a “strategic cooperation” yesterday during a meeting with representatives from local subsidiary Nokian Tyres GmbH.
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Nokian Tyres