Nokian to Invest in Heavy Tyre Production
Nokian Tyres’ Board of Directors has approved a plan to invest 4 million euros in order to expand heavy radial tyre production capacity. This will mean an increase in Nokian Tyres’ total investments in 2006 from 88 million euros to 92 million euros.
The investment includes the whole production process; ie component manufacturing, tyre assembly and curing at the Heavy Tyre plant in Nokia, Finland. The investment will mean a capacity increase of the Nokian Tractor Industrial 2 product line, launched in 2004, and of the Nokian Country King product line, launched in 2005, to better meet the strong growth in demand.
The increase in radial tyre capacity will come on-stream towards the end of this year and in early 2007.
When the whole investment is up and running, the radial tyre annual capacity will grow by around 30 per cent and the total heavy tyre capacity by some 10 per cent.
The investment has no significant impact on numbers of staff, says Nokian.