Nokian expedites plans for new tire capacity in Europe

Nokia, Finland – Nokian Tyres has expedited its plans to diversify manufacturing footprint by investing in new production capacity in Europe, the company confirmed in a statement to ERJ on 6 June.

But the tire maker declined to comment on the possible location and production capacity of the new facility, saying additional information would be provided “in due time.”

The comments came in response to news reports suggesting that the Finnish tire maker was in negotiation with Chinese and Russian buyers to sell its production facility in Vsevolozhsk, Russia.

On 1 June, Helsinki-based commerce-oriented newspaper Kauppalehti published a report saying Chinese tire makers were eying the plant, which has the capacity to produce 17 million units per year of radial passenger and light truck tires.

In response to ERJ’s query, Nokian said it did not comment on “market rumours”.

The company also declined to comment on press reports suggesting that it is considering Eastern European states, including Poland and Serbia, for the location of the new plant.

Nokian has halted investments in the Vsevolozhsk plant since the Russian invasion of Ukraine in February, but has kept the facility open to ensure its ownership of the unit.

In March, the tire maker announced that it was expanding its European production capacity through the construction of a new facility.