NOKIAN is to transfer tire production from Russia to the EU and the United States


RusAutoNewsAs reported in .- Company press release of Nokian tiresThe EU sanctions announced on April 8 have affected the company’s business. Sanctions ban the import of tires from Russia into the EU, ban the export of certain raw materials from the EU to Russia, and restrict transportation to and from Russia. Sanctions will have a significant impact on the ability of companies to manufacture tires in Russia, and the ability to sell tires in both Russia and the EU, especially in Central Europe.

Jukka Moisio, President and CEO of Nokian Tires, said:Due to the high uncertainty and dynamic environment, it is not possible at this time to estimate the final impact on our overall performance. Sanctions will have a significant impact on the ability to manufacture tires in Russia and thus to sell tires in Russia and Central Europe.“

According to the company, Russia will account for about 20% of the company’s net sales in 2021, and about 80% of passenger car tires will be produced in Russia. About half of the raw materials for tires produced in Russia came from outside Russia. The availability of raw materials and their logistics will have a significant impact on the company’s ability to continue production in Russia.

As reported, Nokian Tires is driving plans to invest in new capacity in Europe and continues to increase capacity at its Nokia plants in Finland and Dayton in the United States. According to the plan, in the future, all tires sold in the Nordic countries will be produced in Nokia and all tires sold in North America will be produced in Dayton and Nokia.

“”In February, we launched an emergency response plan to secure the supply of our products. This includes bringing tires closer to our customers, ensuring a supply of raw materials, and transferring production of selected key product lines from Russia to other factories. To reduce our reliance on production in Russia and diversify our manufacturing footprint, we continue to increase our capacity at our plants in Finland and the United States, facilitating investment plans for new capacity in Europe. I am.“Jucca Moisio said.

On the other hand, all heavy tires are produced in Finland, so the heavy tire business is not affected by the ban.

“”Due to the war, sales and distribution of large tires to Russia were suspended. Nokian Tires has never sold tires to the Russian Army and the Russian Federation is not a customer.As stated in the press release.



https://ift.tt/PAgp1kO NOKIAN is to transfer tire production from Russia to the EU and the United States

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