Nokian Tires buys an area in Nokia, Finland21. 06. 2022 Tuesday / By: Robert Denes / Business / Exact time: BST / Print this page
N okian Tires, headquartered in Nokia, Finland, manufactures tires for cars, trucks, buses and heavy-duty equipment. Known for its winter tires, Nokian is the only tire manufacturer in the world to have its own permanent winter tire testing station.
Nokian Tires focuses on the consumer car and tire replacement and premium winter tire market; they do not supply tires to car manufacturers to make new cars. Constantly higher prices in these markets result in higher profitability compared to the rest of the tire industry. The company also manufactures retreading materials and tire pressure monitors and now buys three acres of land in Nokia, Finland, near its headquarters and plant. This will allow synergies to be developed in future development projects.
Manu Salmi, executive vice president of the heavy tire business and Nokia’s plant, says: “This land acquisition will create the conditions for future development. The exact use of the property has not yet been decided, but it will allow us to grow at Nokia in the future."
“Increasing production capacity in Europe in the medium term is one of Nokian Tires’ top priorities, ”the leader continues. "However, the area to be acquired is not part of this project, but is intended to provide future development opportunities for the Nokia plant."