Investments and divestments
Nokian Tyres is currently making significant investments to increase its capacity and meet the demand for high-quality and sustainable products.
Nokian Tyres is building a new passenger car tire factory in Romania to expand its manufacturing footprint and rebuild capacity. The factory will be the world’s first zero CO2 emission tire factory. The construction work is proceeding as planned, and the first tire was produced in July 2024. 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. The total investment is estimated to be approximately EUR 650 million. In August 2024, Nokian Tyres announced that the European Commission had approved EUR 99.5 million Romanian state aid to support the establishment of the new factory in Romania.
Read more about the investment in Romania
In the first half of 2024, Nokian Tyres completed the ramp-up process of the US factory, which is expected to reach its full capacity in 2024. Nokian Tyres opened a new finished goods warehouse adjacent to the factory.
Read more about the US factory ramp-up
During the first quarter of 2024, the company initiated a review of alternative ownership structures of its test center in Spain, where Nokian Tyres intends to remain an important user also going forward.
Acquisitions and divestments
Here you can find information about Nokian Tyres' acquisitions and divestments during the last years.
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 initiates a controlled exit from Russia (June 28, 2022)
Nokian Tyres plc to sell its operations in Russia (October 28, 2022)
Nokian Tyres plc has completed the sale of its operations in Russia (March 30, 2023)
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.
Nokian Tyres sells Vianor US to Gills Point S (August 31, 2020)
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.
Nokian Heavy Tyres acquires a Finnish heavy equipment wheel company Levypyötä Oy (August 1, 2019)