Investments and acquisitions
MAJOR INVESTMENTS
In November 2022, Nokian Tyres’ Board of Directors made a decision to invest approximately EUR 650 million in a new passenger car tire factory in Romania - the world’s first zero CO₂ emission factory in the tire industry. The construction work is proceeding as planned. The first tires are estimated to be produced in the second half of 2024 and commercial tire production is expected to start in early 2025. The annual capacity of the factory will be 6 million tires with an expansion potential in the future. The site will also house a distribution facility for storage and distribution of tires. Read more
Acquisitions and divestments
2023
On March 30, 2023, the sale of Nokian Tyres’ operations in Russia was completed and all Nokian Tyres’ operations in Russia ended. The sale price was EUR 285 million.
- Nokian Tyres plc has completed the sale of its operations in Russia (March 30, 2023)
- Inside information: Nokian Tyres has received the payment for the sale of its operations in Russia (March 16, 2023)
- Inside information: Nokian Tyres plc to sell its operations in Russia (October 28, 2022)
2020
On August 31, 2020, Nokian Tyres announced that it had sold Vianor US network, including ten service centers, to the American Gills Point S Tire. Nokian Tyres' products are offered in the US via selected partners. Read more
2019
On August 1, 2019, Nokian Heavy Tyres Ltd. acquired Levypyörä Oy, a Finnish heavy equipment wheel company, with annual net sales of approximately EUR 18 million, of which approximately 30% has been sales to Nokian Tyres. Read more