The European Commission has initiated an unannounced inspection at Nokian Tyres plc’s headquarters in Nokia, Finland. The investigation forms part of the EC’s wider look at tyre manufacturers across several member states:
The European Commission is carrying out unannounced inspections at the premises of companies active in the tyre industry “in several “member states”. The reason? “The commission has concerns that the inspected companies may have violated EU antitrust rules that prohibit cartels and restrictive business practices”, according to an official statement. So far, Nokian Tyres, Continental, Goodyear, Pirelli, and Bridgestone have confirmed they have received an unannounced inspection.
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.
Nokian Tyres plc has today signed a syndicated revolving credit facility of 200 million euros with a group of five banks, which will replace a total of 175 million euros of existing credit facilities. The company will use the three-year facility, which has two one-year extension options, as a back-up for general corporate purposes.
The Polestar 0 project aims to create a climate-neutral car by 2030, eliminating all sources of CO2 emissions throughout the vehicle’s supply chain, manufacturing processes and end of life without offsetting them. Nokian Tyres has joined the project and is developing climate-neutral tyres for the car.
When it comes to climate targets, 2030 seems to be the golden year. But Nokian Tyres has jumped the gun in the best possible way, reaching one of its key emissions reduction targets seven years ahead of schedule.
Flexforce VF is a new technology from Nokian Tyres, and don’t worry if you haven’t heard of it yet. The tyre maker is about to bring this technology to market and intends to debut two tyres featuring Flexforce VF at the Agritechnica show in November.
Nokian Tyres has unveiled a new all-season tyre for European markets and launch images of the Seasonproof 1 don’t only provide a view of what the tyre looks like – the DOT code on the sidewall tells us where Nokian Tyres Seasonproof 1 is made, and who the manufacturer is. What we can see from the 205/55 R16 and 235/60 R18 tyres in publicity photos is that both were produced by Sailun Group in Qingdao, China.
Nokian Tyres has announced a successor to its Seasonproof all-season tyre. Named the Seasonproof 1, this latest generation tyre delivers “improved wear resistance and mileage.” Seasonproof 1 will debut by the end of this year in a range that covers 63 dimensions for cars, SUVs and CUVs.
According to Andrey Pantyukhov, who until last year headed the Russia and Asia business area for Nokian Tyres, tyres made in the Finnish firm’s former plant in Russia are, technically speaking, “exactly the same” as those produced under Nokian Tyres ownership. Pantyukhov, now chief executive officer of Tatneft-owned business Ikon Tyres, claims “the only difference is the name.”
Niko Haavisto will become the new Chief Financial Officer of Nokian Tyres and a member of the company’s Management team as of 1 October 2023, succeeding Teemu Kangas-Kärki. In this role, he will report to Jukka Moisio, President and Chief Executive Officer. Jari Huuhtanen, VP, Group Business Control, will continue in the interim position of SVP, Finance and Treasury, until the end of February 2024.
Nokian Tyres has given word that Teemu Kangas-Kärki, CFO and Management Team member, has decided to leave the company. He will remain with Nokian Tyres until 30 November 2023. The recruitment process for his successor has started, and Jari Huuhtanen, VP, Group Business Control, will hold the interim role of SVP, Finance and Treasury, until a permanent replacement arrives.
GB Tyres has bought Nordic Tyres (UK) Ltd. Nordic Tyres, which is based in Dumfries, Scotland, was established in 1999 and has become a well-known name in the UK agricultural and forestry tyre sectors. Alan Lindsay, managing director, Nordic Tyres will remain in the business.
When announcing expansion plans for its North American plant in January 2023, Nokian Tyres said it would increase the workforce to 475 by hiring 75 new employees. The company has now completed the recruitment process, having hired 125 new workers for the Dayton, Tennessee factory as part of plans to double production at the facility by 2024.
Heuver Tyres is now a co-distributor of Nokian agricultural and industrial tyres in France. Nokian Heavy Tyres previously serviced the French market solely via wholesaler Sonamia, however Pierre Choubert, business manager at Nokian Tyres, explains that developments in the industrial tyre market and changes in the existing partner network mean Nokian could not remain with a single distribution model.
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