Russia
The 5th International Autosalon in Moscow looks set to be the most successful yet. More than 600 exhibitors from 27 countries are showing their latest products. It is expected that the number of vehicles in use in Russia will double by 2005.
Nokian Tyres has entered into negotiations to start tyre manufacturing in Russia as soon as possible. The possible partner has not been named.
Nokian has released interim financial figures for the first nine months of this year. These show an increase in net sales of 7.4 per cent to 277.7 m Euro and an operating profit of 25.3 m Euro (11.9 m Euro for the same period last year). Net profit reached 9.1 m Euro (2.7 m in 2000). Nokian’s target for the year is to achieve a sales growth of around 10 per cent and improve on last year’s profitability.
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.
Following Goodyear and Michelin, Nokian Tyres has released its half year figures. Sales rose 25% over the same period last year to reach 152.2 m Euro but operating profit fell from 5 m Euro to a loss of 1.5 m Euro. Net profit was also negative at -4.1 m Euro. One cause was increased raw material prices (rubber, oil, carbon black) up 8% over last year. Despite the loss, Nokian is broadly on track because, as a Scandinavian company, it generally makes huge profits in the second half of the year.
Since January 1999 Continental has held a 75% stake in Matador’s truck tyre production. Now rumours suggest that Continental is seeking the same deal for passenger car tyre production. There is no confirmation of this from Continental. Up until now Matador management has been keen to remain independent as far as passenger car tyre production is concerned. Matador see opportunities to develop passenger car market share throughout Europe as well as maintaining its successful position in Russia.
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