Nokian Heavy Tyres acquires Finnish wheel company Levypyörä Oy
Nokian Heavy Tyres is acquiring a Finnish heavy equipment wheel company Levypyörä Oy. With its two business lines, wheels and steel structures, Levypyörä serves several original equipment manufacturers and aftermarket customers in forestry, agriculture and earthmoving applications. Annual net sales of Levypyörä are approximately 18 million euros.
“With the acquisition, Nokian Heavy Tyres can offer innovative new solutions to its existing customers and increase wheel volume as well as further improve its service level. Levypyörä has already been a trusted partner of ours for many years. The acquisition provides additional growth opportunities and offers a full-service solution for our key OE and AM customers”, says Manu Salmi, managing director, Nokian Heavy Tyres.
“Being a part of a leading specialty tire manufacturer gives us a great opportunity to further grow and develop Levypyörä products and services globally and strengthen our current customer and supplier relationships”, says Lars Ojansuu, managing director, Levypyörä.
Levypyörä was founded 64 years ago and it employs approximately 100 people in Nastola, Finland. The company is a premier provider of wheels for heavy OE and aftermarket applications. It is committed to developing eco-friendly processes such as reducing CO2 emissions and not using solvents in painting. Levypyörä was a part of Weckman Steel Corporation. Nokian describes its acquisition as being in line with its growth strategy.