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Nokian Tyres investing 106 million euros in new European factory

Company News, International News

Nokian Tyres is expediting “plans to invest in new production capacity in Europe” in response to the sanctions against Russia, where the company has significant levels of tyre production. Specifically, Nokian’s board of directors will cut the dividend payable to shareholders by 106 million euros to fund the new capacity. Nokian Tyres will also increase capacity at its factories in Finland and the US with a view to becoming more geographically diversified in its manufacturing operations.

8th April 2022/by Chris

Nokian Tyres cuts 2021 dividend as European capacity ramps up

The war in Ukraine has brought “high uncertainty” to Nokian Tyres’ operational environment and manufacturing capacity, and as a result it is accelerating plans to invest in new production capacity in Europe. To help fund this capacity, the Board of Directors at Nokian tyres has decided to decrease the dividend payable for the 2021 financial year.

31st March 2022/by Stephen

Nokian Tyres staying in Russia

Nokian Tyres has explained the decision to retain its manufacturing operation in Russia, a facility that reportedly produced 82 per cent of Nokian’s passenger and light commercial vehicle tyres last year. The Finnish tyre maker states that by continuing to operate the passenger car tyre factory in Vsevolozhsk, Russia it wants to “make sure that the factory is operated and controlled by Nokian Tyres also in the future.”

22nd March 2022/1 Comment/by Stephen

Nokian tyres implements Ukraine contingency plans, donates to UNICEF

Company News, International News

The crisis in Ukraine has impacted upon Nokian Tyres’ business in multiple ways, and the company has now activated contingency plans to “mitigate the financial and operational impacts” upon business. At the same time, it has donated 100,000 euros to UNICEF to help children in the war zone.

8th March 2022/by Stephen

Nokian Tyres: Record sales & improved margins in 2021

Nokian Tyres posted all-time record sales in the past financial year. The Finnish manufacturer reports that its sales rose by 29.7 per cent (comparable currencies) to 1.71 billion euros. Operating profit also improved considerably, rising 123.5 per cent to 268.2 million euros. This resulted in an operating margin of 15.6 per cent, up 6.5 percentage points on the 2020 result. The tyre maker’s Board of Directors has proposed a dividend of 1.32 euros per share, to be paid in two instalments.

14th February 2022/by Stephen

Outpost AT – Nokian Tyres launches latest all-terrain tyre

Nokian Tyres has introduced the first model in a family of tyres it says will “strongly support” the company’s growth targets in coming years. This is the Nokian Tyres Outpost AT, an all-season tyre for SUVs, crossovers and light trucks that “delivers safe, durable driving on any road – or off the road.” The Finnish manufacturer plans to sell this all-terrain product in markets all around the world.

18th January 2022/by Stephen

Nokian moving to 24/7 production in Finland

Company News, International News

Round the clock, seven days a week production will soon be reality at the Nokian Tyres plant in Nokia, Finland. The tyre maker says the change to this format should “significantly” increase production capacity for passenger car tyres. Nokian is creating approximately 80 new jobs at the factory to accommodate this higher capacity.

18th November 2021/by Stephen

Nokian adds to E-Truck & R-Truck ranges

New sizes have joined the Nokian E-Truck medium/regional haul and Nokian R-Truck on-/off-road ranges. Nokian Tyres has introduced a steer axle Nokian E-Truck Steer fitment in size 385/55R22.5 as well as a Nokian R-Truck Trailer tyre in size 285/70R19.5.

5th November 2021/by Stephen

Nokian Tyres: Healthy YTD sales

Nokian Tyres has regained its operational strength. The Finnish manufacturer shares that its sales rose by more than a third in the first nine months of this year, while operating profit more than quadrupled over the same period, nudging the margin up to 17.9 per cent.

3rd November 2021/by Stephen

Time to deliver – Nokian Tyres aiming for 7% annual growth

Finland’s Nokian Tyres says that its large investment phase is now over and, following revisions to the company’s mid-term strategy, the goal is now to “fully benefit” from these investments. The company aims for organic growth ahead of the market and increasing market share in all key regions, with a target to achieve net sales of 2 billion euros in the mid-term.

5th October 2021/by Stephen

Wind energy to power Nokian Tyres’ Finnish operations

Under a new ten-year agreement, Nordic energy company Gasum will supply renewable wind energy for the electricity Nokian Tyres uses in its factory in Finland as well as its Vianor operations within the country. Supply of power produced at a new wind farm in North Ostrobotnia will start in 2023.

27th September 2021/by Stephen

Nokian Tyres: ‘strong volume & profit growth’ in H1 2021

The difference a year can make. Almost 12 months to the day after reporting an operating loss of 13.7 million euros for the first half of 2020, Nokian Tyres has announced achieving an operating profit of 126.1 million in the six months to 30 June 2021 with an earnings per share of 0.72 euros. It achieved this result on the back of net sales that were up 37.7 per cent year-on-year to 758.0 million euros. Nokian Tyres notes that when looking at comparable currencies, net sales increased by 41.5 per cent.

3rd August 2021/by Stephen

Nokian Tyres producing 24/7 in the USA

International News

Nokian Tyres has added a fourth production shift at its North American factory in Dayton, Tennessee, and is now producing tyres around the clock at its 2019-opened facility. The switch to 24/7 production coincides with the Dayton plant’s ISO 14001 certification.

26th July 2021/by Stephen

Nokian adds to Hakkapeliitta TRI range

Contractors who operate tractors in regions where winters are harsh rely on tyres that provide grip in varying conditions, such as the Nokian Hakkapeliitta TRI. Nokian Heavy Tyres has expanded this range with the addition of two 65-series sizes, 540/65R28 and 650/65R38. A total of 29 dimensions are now available.

24th June 2021/by Stephen

Derail uneven tyre wear: Nokian Ground Kare Semi-Slick

Railways are typically best suited to vehicles with metal wheels, and a backhoe is thus not on home turf in such an environment. It requires a tyre able to cope with driving over thin metal rails, something which can cause uneven wear and shorten tyre life. Nokian Tyres says it has been perfecting a specific tyre for railway use for several years and is now introducing the Nokian Ground Kare Semi-Slick. With this new tyre, the manufacturer says it “solves many problems that were previously typical when using a backhoe loader on railroads.”

15th June 2021/by Stephen