Nokian Tyres
Finland’s Nokian Tyres says that its large investment phase is now over and, following revisions to the company’s mid-term strategy, the goal is now to “fully benefit” from these investments. The company aims for organic growth ahead of the market and increasing market share in all key regions, with a target to achieve net sales of 2 billion euros in the mid-term.
Under a new ten-year agreement, Nordic energy company Gasum will supply renewable wind energy for the electricity Nokian Tyres uses in its factory in Finland as well as its Vianor operations within the country. Supply of power produced at a new wind farm in North Ostrobotnia will start in 2023.
The difference a year can make. Almost 12 months to the day after reporting an operating loss of 13.7 million euros for the first half of 2020, Nokian Tyres has announced achieving an operating profit of 126.1 million in the six months to 30 June 2021 with an earnings per share of 0.72 euros. It achieved this result on the back of net sales that were up 37.7 per cent year-on-year to 758.0 million euros. Nokian Tyres notes that when looking at comparable currencies, net sales increased by 41.5 per cent.
Nokian Tyres has added a fourth production shift at its North American factory in Dayton, Tennessee, and is now producing tyres around the clock at its 2019-opened facility. The switch to 24/7 production coincides with the Dayton plant’s ISO 14001 certification.
Contractors who operate tractors in regions where winters are harsh rely on tyres that provide grip in varying conditions, such as the Nokian Hakkapeliitta TRI. Nokian Heavy Tyres has expanded this range with the addition of two 65-series sizes, 540/65R28 and 650/65R38. A total of 29 dimensions are now available.
Railways are typically best suited to vehicles with metal wheels, and a backhoe is thus not on home turf in such an environment. It requires a tyre able to cope with driving over thin metal rails, something which can cause uneven wear and shorten tyre life. Nokian Tyres says it has been perfecting a specific tyre for railway use for several years and is now introducing the Nokian Ground Kare Semi-Slick. With this new tyre, the manufacturer says it “solves many problems that were previously typical when using a backhoe loader on railroads.”
Nokian Tyres has equipped its logistics centre in Nokia, Finland with solar power capabilities. The plant consists of 3,160 solar panels with a combined output of more than 1,100 kilowatts (kW). All electricity generated by the solar panels is used by the logistics centre, including to provide lighting and ventilation.
Trade association the Chemical Industry Federation of Finland has awarded Nokian Heavy Tyres Ltd during its annual Safety Awards ceremony, which took place yesterday. It honoured Nokian in the large companies category, acknowledging the tyre maker’s senior management for their strong commitment to improving safety.
Nokian Tyres is increasing production capacity for passenger car tyres at its factory in Finland approximately 30 per cent by adopting a four-shift production schedule. To accommodate this capacity increase, it will hire around 70 new workers for passenger car tyre production in Nokia, Finland. Recruiting begins immediately and four production shifts will be in action by the start of August at the latest.
Nokian Tyres has published its Corporate Sustainability Report 2020, which it states was prepared “in accordance with the GRI (Global Reporting Initiative) Standards” and verified by an independent third party. The Corporate Sustainability Report describes Nokian Tyres’ work on sustainability actions in 2020 in terms of product liability and safety as well as social, economic, and environmental responsibility.
Jukka Moisio is “extremely proud” the Nokian Tyres team’s response to the challenges it faced in 2020. But no amount of pride can compensate for sales and income lost due to lockdowns and other restrictions. As expected, the Finnish tyre maker reported reduced sales and earnings for the year.
Finnish manufacturer Nokian Tyres says it wants to develop and present a concept tyre entirely produced from renewable and recycled tyres by 2025. It hasn’t yet shared specific project details, but it appears this 100 per cent eco-friendly concept may well be a winter tyre. Nokian’s announcement creates this impression, at any rate.
A new contract covering the workforce at the Nokian Tyres plant in Finland will allow for more flexible working hours in 2021. Nokian Tyres says the contract covers approximately 400 people engaged in various functions related to car tyre production and “enters into effect immediately.” The contract remains in force until the end of the year.
Nokian Tyres