Nokian Signs JV Agreement in Kazakhstan
After months of speculation about Nokian Tyres’ involvement in a new project in Kazakhstan, the Finnish manufacturer formalised its commitment to establishing a greenfield passenger car tyre factory in this northern Eurasian nation on October 19 through the signing of an agreement with Kazakhstanian multi-industrial company Ordabasy Corporation JSC.
The two parties’ cooperation will take the form of a joint venture company called Ordabasy – Nokian Tyres JSC. Nokian will hold a 10 per cent stake in the joint venture company, with an option to increase ownership to a minimum of 50 per cent.