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Nokian and Matador To Commence Contract Manufacturing

Company News, International News, News

Nokian Tyres plc and Matador AS are signing a contract manufacturing agreement. This transaction will mean that Matador will produce Nokian branded speed categories S, T, and H car summer tyres at its factory in Slovakia. The tyres will be sold in Eastern European markets. The production target for 2003 is 100 thousand Nokian tyres with initial sales taking place during the first quarter of the year. Volume manufacture will increase to 300 thousand tyres by the end of 2005.Through contract manufacturing Nokian will continue to ensure its growth potential in Eastern Europe. Production capacity at the company’s factory in Finland will be freed to produce ultra high performance tyres. The agreement will be valid until the end of 2005 and after that on a one-year basis.

15th January 2003/by Tyrepress Editors

High Performance Tyres From Nokian

Nokian Tyres has developed two new high performance summer tyres, tailored for Central Europe, the USA and Nordic countries, and which will go on sale next spring. The NRVi is a V-rated tyre available in 19 sizes and features an info field near the bead area – the tyre fitter marks the field with the correct inflation pressure for the driver’s convenience. The second tyre, the NRY, is Z-rated (maximum speed 300 km/hr) and comes in six sizes, which correspond to OE sizes of many luxury cars.

28th August 2002/by Tyrepress Editors

Turnover And Profits Up For Nokian

Nokian Tyres has released its figures for the second quarter. Looking at the figures for the first six months, both turnover and operating profit were up on 1H 2001. Turnover rose 12.6 per cent to 193.3 million Euros (1H 2001 171.6 m Euros) and operating profit was 8.7 m Euros (6.7 m). Net profit was 1 m Euros (-0.8 m Euros). The good figures were the result of price increases, improved product mix and lower material costs. Most product groups showed increased sales, with the exception of retreading materials, and the Vianor retail chain lost 2.5 m Euros.

12th August 2002/by Tyrepress Editors

Russian Joint Venture For Nokian And Amtel

Finnish company Nokian Tyres and Amtel Holding of Russia have signed a letter of intent to form a joint venture company to manufacture and market premium branded tyres in Russia and CIS countries. The JV – owned 50/50 by the two companies – will produce Nokian and Nordman branded tyres. The first Nokian tyres will be manufactured at the JV’s plant at Voronezh in 2004 and the maximum capacity of three million tyres is planned to be achieved by 2007. Investment in new manufacturing facilities will total US$ 110 million, with a first year investment of 38 million.

9th July 2002/by Tyrepress Editors

Improved Results For Nokian

Nokian Tyres have released first quarter results. Turnover was up 10.3 per cent at 84.5 million Euro (Q1 2001: 76.6 m). The operating result was -1.0 m Euro (-1.9 m) and the result before tax was -4.0 m (-5.0 m). The net result was -3.3 m (-3.7 m). Sales and profits of passenger car tyres rose, while sales of heavy tyres decreased, as did sales of retreading materials. Sales of the chain Vianor were up, but the loss was greater than Q1 2001. Nokian’s aim for 2002 is to achieve better turnover and profit than last year.

26th April 2002/by Tyrepress Editors

Increased Share Capital For Nokian

At its AGM, Nokian Tyres decided to raise its share capital from 17,798,127.40 Euro to 21,164,572.00 Euro. The company’s Articles of Association were amended to allow for a share capital of between a minimum of 16 million Euro and a maximum of 64 million. No new shares will be issued; the 3,366,444.60 Euro will be raised by transferring this amount from the share premium account to the share capital.

5th April 2002/by Tyrepress Editors

A New Nokian Winter Tyre For Fast Driving

Nokian Tyres has launched its new WR high performance winter tyre. It has been developed with the particular needs of drivers in Central Europe and North America in mind and replaces the Nokian NRW winter tyre. One particular size in the comprehensive range, 235/50 R18W, is intended for top speed driving, up to 270 km/hour, and is – according to the Finish tyre manufacturer – the world’s fastest winter tyre. The products will be available worldwide for consumers in the Autumn of this year. This reflects the design expertise of the Nordic tyre factory, Nokian says.

8th February 2002/by Tyrepress Editors

2000 Figures From Nokian

Nokian Tyres has released financial results for last year. Net sales were 398.5 m Euro, 23.5 per cent higher than 1999. Allowing for acquisitions made during the year, the figure was 359.8 m Euro, or 11.5 per cent higher. Operating profit was 39.4 m Euro (1999: 42.1 m), affected by a 1.7 m Euro loss incurred by the tyre retail chain. Net profit was 19.8 m Euro (1999: 25.7 m).

30th November 2001/by Tyrepress Editors

Good Second Quarter Results From Nokian

Nokian Tyres has reported its Q2 results, which proved better than analysts expected. While sales were as forecast (up 11.7 per cent to 95 million Euro), operating income was much higher than predicted at 8.5 million Euro, with an operating margin of 8.9 per cent (last year, 3.5 per cent). Results were helped by the 1.9 million Euro operating profit recorded by the Vianor retail chain. Analysts are cautious about the outlook for the second half of the year, with much depending on winter tyre sales.

30th November 2001/by Tyrepress Editors

Purchase Completes Vianor Chain In Sweden

Nokian Tyres has purchased the 13-outlet tyre chain of Dackaffaren for the sum of 4.3 million Euro. Dackaffaren had a turnover of 110 million Swedish Crowns (11.5 million Euro) last year and employs 70 staff. The company will be incorporated into Nokian’s Vianor tyre retail chain, which now consists of 50 outlets in Sweden and a total of 170 outlets in five countries. Kim Gran, Nokian’s President and CEO, says that the acquisition completes the company’s coverage in Sweden.

30th November 2001/by Tyrepress Editors

Offtake Agreement Between Nokian And Russian Producer

Nokian Tyres has entered into negotiations to start tyre manufacturing in Russia as soon as possible. The possible partner has not been named.

30th November 2001/by Tyrepress Editors

RoadSnoop Launched By Nokian

Nokian Tyres is preparing to launch RoadSnoop, its first generation tyre pressure and temperature monitor. The sensor is battery powered and is mounted in the tyre at tyre changing and operates instantaneously upon turning the key in the ignition. It sends signals to a dashboard mounted monitor. Deliveries are expected at the beginning of March 2002.

30th November 2001/by Tyrepress Editors

Lower Profits Warning From Nokian

Nokian Tyres has warned that its profits for its tyre chain in the fourth quarter, and for the year as a whole, will be lower than expected, although group sales and profits developed as expected during the autumn. The reason cited for lower sales was the mild winter so far in Nordic countries, which depressed sales of winter tyres.

30th November 2001/by Tyrepress Editors

Price Rise For Nokian Tyres in Germany

The German subsidiary of Finnish tyre manufacturer, Nokian Tyres, has announced a 3% price increase for passenger car and SUV-tyres, and an increase of 2% for commercial vehicle tyres, effective from 1st April.

30th November 2001/by Tyrepress Editors

Nokian Tyres Strengthens Retail Network

Nokian Tyres strengthens its retail network by purchasing Rengasmestarit-Kumi-Helenius Group that has 31 tyre retail outlets in Finland. After the acquisition, Nokian Tyres’ retail network covers the whole of Finland. The purchase price is 8.3 million euros. In 1999, the company’s net sales amounted to approximately 34 million euros and it employed 240 people.

7th December 2000/by Tyrepress Editors