In preparation for the company’s 2024 Annual Meeting next April, the Nokian Tyres’ Shareholders’ Nomination Board has submitted its proposal to the Board of Directors. With two of the nine current board members not available for re-election, it proposes two new members, Elina Björklund and Elisa Markula. Nokian Tyres comments that these nominations “improve the Board’s gender diversity,” an aim indicated in a company proposal last year.
Goodyear’s new Nordic friction – or non-studded – winter tyre, the UltraGrip Ice 3 has gained several podium positions in the 2023 winter tyre testing season. The tyre won two Finnish tests from magazines Moottori and Tekniikan Maailma, and claimed second place in the tests conducted by Swedish magazines Vi Bilägare and Teknikens Värld. The Goodyear UltraGrip Ice 3 incorporates a range of the manufacturer’s latest winter tyre technologies, including Ice Grip technology, Ice Handling+ technology, and Snow Braking technology.
The FIA, World Rally Championship promoter and Pirelli are discussing the opportunity to make more diverse and challenging race strategies by enforcing the use of option tyres in future rallies. The tyre supplier revealed the plan following a Rally Finland won by British driver Elfyn Evans after a dramatic Friday in which many pre-rally favourites were eliminated. Pirelli said its Scorpion soft tyres performed reliably well, with all drivers (except Teemu Suninen on Sunday morning) using identical strategies to capitalise on its strength versus the option tyre.
In spite of a steep year-on-year drop in operating profit during Q2 2023, Nokian Tyres believes it has made significant progress towards rebuilding the company following the decision to cut its ties with Russia. It expects a stronger second half to 2023 due to winter and all-season tyre sales and the contribution made by contract manufacturing.
A week after parent company Nokian Tyres reported an operating loss of 18.8 million euros for the first quarter of the year, Nokian Heavy Tyres has announced commencing what it calls “change negotiations” to lower production at its Nokia, Finland plant in line with “the market and demand situation.” Approximately 160 employees are affected.
German pyrolysis technology company Pyrum Innovations AG has signed a letter of intent with Norway’s Polyfuels Group AB to jointly build and operate up to four pyrolysis plants for the processing of end-of-life tyres (ELT). The joint venture plants will be based on Pyrum technology and will be realised by Circular Tires AS, a wholly owned subsidiary of Polyfuels. The partners intend to build pyrolysis plants for recycling waste tyres in Norway, Sweden, Finland and Estonia by 2030.
In a busy terminal, tyre stability and long service life are key factors in ensuring operational safety and efficiency for reach stackers, forklifts and log stackers. Nokian Tyres says it developed the HTS G2 harbour tyre family for this purpose, adding that this range’s “excellent stability, good grip and predictable service life has been impressing users for years.” The scope to impress has now grown with the arrival of a new HTS G2 family member. As of 17 January, the Nokian Tyres HTS G2 L5-S, a fitment intended for use on reach stacker front axles, is available in size 18.00-25.
The Association for Finnish Work, a Helsinki-based organisation tasked with raising the profile of Finnish-made products and ensuring their success, has granted Nokian Heavy Tyres the right to use its Key Flag symbol on tyres, wheels and retreading materials. The Key Flag denotes that these products are produced in Finland and contain at least 50% domestic content.
At the end of June, Nokian Tyres announced that it was executing a “controlled exit” from Russia. By August Russian news sources were reporting that Nokian was accepting “binding offers” for its Russian tyre plant up until the end of September. At the end of October, Nokian confirmed that it had agreed terms with Tatneft to sell its Russian tyre operations for roughly 400 million euros. More than a month later, Nokian Tyres spokespeople are speaking of “substantial uncertainties” relating to the Tatneft deal.
Nokian Tyres has acquired a property adjacent to its headquarters and factory in Nokia, Finland. With the addition of this 27,000 square metre building, the Nokian Tyres site in Nokia approaches 150,000 square metres in total.
At a time when it is investing in new European capacity and exiting Russia, Finland’s Nokian Tyres has announced a reorganisation of its structure and management. These measures centre upon a combining of all Passenger Car Tyres commercial operations under the leadership of Anna Hyvönen, who currently serves as executive vice-president North America, Nordics and Vianor. Bahri Kurter, executive vice-president Central Europe at Nokian Tyres, is leaving the company to “pursue his career outside of Nokian Tyres.”
On 28 June, the Regional State Administrative Agency for Western and Inland Finland (AVI) granted the environmental permit for Keliber’s lithium chemical plant. The plant will be built in Kokkola Industrial Park (KIP).
Nokian Tyres is “preparing for the future” by purchasing three hectares of land near its factory in Nokia, Finland – but it says this site won’t be home to its planned European manufacturing facility. The tyre maker says the property’s location in the immediate vicinity of its factory and headquarters “enables synergies in future development projects.”
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Source: Solidium Oy