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Nokian Tyres: Czech Republic for New Plant

Nokian Tyres is considering building a new plant in Lesna near Valasske Mezirici in the Czech Repbublic. The new plant will have the capacity to produce 8 million tyres per year, according to the AFX news agency report. The report cited documents submitted to the EIA (Environmental Impact Assessment) process, which described Lesna as “one of the possibilities for the location of this plant in the region of central Europe.”

Should Nokian Tyres decide to build the plant, the CIA agency reported construction would begin during the fourth quarter, with production expected in December 2007. This report added that the company plans its first test operation of the plant in January 2008, a launch of the first half of production in December 2009, and then full production in December 2012. The plant will likely employ 937 people, CIA added.

27th September 2005/by Tyrepress Editors

Nokian Officially Opens Russian Factory

The official inauguration of Nokian Tyres’ new tyre plant will take place today in Vsevolozhsk, Russia. The plant is already in operation, and the first tyres were manufactured in June 2005. Invitations to the ceremony have been sent to Finnish and Russian high-ranking authorities, partners in the construction project, customers, media representatives and the company’s own personnel.

22nd September 2005/by Tyrepress Editors

Nokian Introduces Studdable Tread

Nokian Tyres will expand its popular Noktop 41 product family with a new studdable retreading tread, designed to offer superior grip in icy winter conditions. Studding can improve tyre grip on slippery ice by more than 20% compared to unstudded treads, says Nokian.

Intended for buses and timber, container and goods transportation, Nokian Noktop 41 Stud is a safe and environmentally friendly product. It is manufactured from HA oil-free rubber compounds developed for Nordic conditions.

20th September 2005/by Tyrepress Editors

Nokian i3 Aims At Volume Sector

Nokian has introduced a new tyre, aimed at small and family-sized cars. Called the i3, the tyre is T-rated and comes in 14″ and 15″ sizes, with a few 13″ sizes also available. Altogether there are 11 sizes, for aspect ratios of 70, 65 and 60 series.

9th September 2005/by Tyrepress Editors

Nokian Tyres Increases Share Capital

Nokian Tyres has registered an increase in share capital. A total of 229,500 Nokian Tyres plc’s shares have been subscribed with the 2001A option rights, 68,200 with the 2001B option rights and 373,210 with the 2001C option rights. These option rights are attached to the Nokian Tyres plc’s Option Program of 2001.

18th August 2005/by Tyrepress Editors

Fidelity Reduces Nokian Stake

Fidelity International Limited has informed that its ownership of Nokian Tyres share capital and voting rights has decreased below 5% on August 12, 2005. Fidelity International Limited own a total of 5,739,981 shares which is now 4.78 per cent of Nokian Tyres share capital figure of 120,171,010.

16th August 2005/by Tyrepress Editors

Niznekamskshina Looks to Global Cooperation

Management company Tatneft-Neftekhim’s CEO Zagit Sharafeev announced that European tyre makers Michelin, Pirelli and Nokian have expressed their intention to invest 30 million euros in the expansion of agricultural machinery tyre production at Nizhnekamskshina. The investment will be in the form of technology transfers and equipment supplies. “In our view, Nizhnekamskshina should benefit from the cooperation with the global tyre majors,” Russian CentreInvest analysts reported. cja

24th June 2005/by Tyrepress Editors

Nokian Tyres Introduces Runflat Winter Tyres

Nokian Tyres is improving the safety and comfort of driving by introducing the runflat property to its most important winter tyre models. If a flat occurs, the driver can drive on runflat tyres for about 100 km to reach a tyre store or service station where a new tyre can be fitted. The runflat property allows drivers to avoid danger and difficult tyre changes amid busy traffic.

Use of runflat tyres in increasing at a very quick rate. Although runflat products held only a small share of the European tyre market in 2004 (about 0.25%), sales saw a threefold increase over the previous year. Half of the runflat products sold were winter tyres. This year sales are expected to increase even more.

21st June 2005/by Tyrepress Editors

First Hakkapeliitta Tyres Produced at Nokian’s Plant In Russia

The first Nokian Hakkapeliitta 4 winter tyres have been produced on schedule at Nokian Tyres’ plant in Vsevolozhsk, Russia. Actions to increase production have begun with the target to produce 200,000-500,000 tyres during 2005. The installation of a second production line will begin in the end of the current year. The official opening of the factory will be in the early autumn.

13th June 2005/by Tyrepress Editors

Nokian Reports Strong First Quarter

Finnish tyre manufacturer Nokian Tyres Oyj reported profits of 9.4 million euros, compared with 7.1 million euros last year. At the same time net sales rose 129.4 million euros from 112.9 million. Nokian Tyres said its main target for 2005 remains to outperform the results of the previous year in terms of net sales and profit.

19th May 2005/by Tyrepress Editors

Nokian’s Leningrad Factory Due to Open in July/August

Nokian Tyres is to launch its Vsevolozhsk, Leningrad, tyre plant in July or August 2005. Speaking at a Leningrad an Interfax press conference, regional governor Valery Serdyukov confirmed the company would begin production this summer.

5th May 2005/by Tyrepress Editors

Nokian Signs 180 Million Euro Revolving Credit Facility

Nokian Tyres plc has signed a 180 million syndicated revolving credit facility for 5 years with international banks on the 19 April. The facility will be used to refinance the existing 100 million euros syndicated revolving credit facility that was signed 1 April 2003 and for general corporate purposes. The lead arranger for the facility was Danske Bank A/S. Other participating banks include: Danske Bank A/S, Handelsbanken, HSH Nordbank AG Copenhagen Branch, Nordea, NORD/LB Helsinki Branch and Sampo Bank plc.

21st April 2005/by Tyrepress Editors

Nokian Tyres Announces Directed Share Issue

Nokian Tyres has revealed that it will issue a maximum of 1.074 million new shares in a directed share issue to selected investors today. This corresponds to 9.9 per cent of shares outstanding. According to a Deutsche Bank analyst, the move could be an early indication of a possible acquisition. “Nokian only has a track record of acquiring and integrating tyre retail and distribution companies. It has not integrated tyre plants historically,” they add. Despite a large investment programme, the analysts still expect 117 million euros of positive cash flow.

17th February 2005/by Tyrepress Editors

Nokian Again Report Record Figures

Last year Finnish manufacturer Nokian reported record figures. Now it has done it again. In the last twelve months the group’s turnover increased from 528.7 million euros to 602.2 million in 2004, while operating profit increased from 79.1 million euros to 108.1 million euros. At the same time the Vianor trade group represented about 37 per cent of the total turnover. Almost all of the company’s operating profit came from manufacturing and 80 per cent of this was generated by passenger car sales. Roughly 70 per cent of production is for export in the Nordic countries, Russia, CIS and North America. The management remains convinced that it will be able to outperform these record figures again in 2005.

11th February 2005/by Tyrepress Editors

Nokian Tyres Expands into Eastern Europe

Nokian tyres has acquired its Czech importer and a tyre wholesaler, Andel Export-Import. In a statement the company explained that the acquisition will enable it to concentrate its Eastern and Western European logistics operations in Prague.

In 2003 Andel Export-Import’s net sales totalled approximately 3.4 million euros. “The acquisition ensures the sales growth for Nokian branded tyres in a strategically important and fast growing Eastern European market. We will get the control of the whole logistics chain and a very healthy company,” said Kim Gran, president and CEO of Nokian Tyres.

8th February 2005/by Tyrepress Editors