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You are here: Home1 / News2 / Nokian Tyres begins ‘controlled exit’ from Russia

Nokian Tyres begins ‘controlled exit’ from Russia

Date: 28th June 2022 Author: Stephen Goodchild Comments: 0
In 2021, approximately 80% of the PCR tyres were produced in Russia (Photo: Nokian Tyres)

Due to the war in Ukraine and subsequent, tightening sanctions, Nokian Tyres plc has determined that it is “no longer feasible nor sustainable” to continue operations in Russia. The Finnish tyre maker’s Board of Directors thus decided today to initiate a controlled exit from this market. Exit preparations start immediately and Nokian Tyres will evaluate different options for its departure, with “due consideration to local employees and legislation.”

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Related news:

  1. EU sanctions: “significant impact” on Nokian Tyres’ European sales
  2. Nokian Tyres staying in Russia
  3. Nokian Tyres cuts 2021 dividend as European capacity ramps up
  4. Nokian Tyres raises 2022 net sales guidance
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Andrey Pantyukhov, featured, Jukka Moisio, Nokian, Nokian Tyres, Russia, RussiaUkraineWar, UkraineRussiaWar

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