Nokian Tyres to Build New Factory in Romania
Like many companies, Nokian Tyres has been impacted by the war in Ukraine, and as a result, the company sold its Russian holdings to build a new facility in Romania. “In the third quarter of 2022, our focus was on planning and taking the first steps to build the new Nokian Tyres without Russia,” said
Nokian Tyres Initiates a Controlled Exit from Russia
Nokian Tyres’ board of directors recently decided to initiate a controlled exit from the Russian market. Due to the war in Ukraine and the subsequent, tightening sanctions it is no longer feasible nor sustainable for Nokian Tyres plc to continue operations in Russia, the company says. The exit preparations will start immediately, and the company
Tire Supply Chains Are ‘Anything But Normal’ and They Won’t be for a While
For the last several years, the one word that constantly comes up in conversations about the tire business is supply–No. 1 getting the tires, and No. 2, getting the ones you need. Inflation has caused logistics and transportation costs to rise, and we’re still seeing port congestion and other ripple effects from COVID shutdowns and
Nokian Plans to Up Capacity with EU Sanctions on Russia
The European Union has announced new sanctions against Russia, impacting Nokian Tyres’ business, the Finnish tiremaker says. The sanctions prohibit the import of tires from Russia to the EU, prohibit the export of certain raw materials from the EU to Russia and limit transportation from and to Russia. Nokian says the new sanctions will have
Nokian Looks for Additional Capacity Amid Russian War in Ukraine
With a manufacturing plant in Russia and Ukrainian employees at war, Nokian Tyres has issued frequent updates on how the Russian invasion in Ukraine is impacting its business. This past month, Nokian issued a statement saying it is looking to diversify its geographic footprint in its manufacturing operations and is actively looking for additional manufacturing
Yokohama Halts Production at Russian Tire Plant
Given the current state of affairs and raw material procurement difficulties, Yokohama Rubber says it has decided to gradually halt production at its Russian passenger car tire manufacturing subsidiary, LLC Yokohama R.P.Z. Yokohama says it sincerely hopes that the situation in Russia and Ukraine will be resolved as soon as possible and that peace and
Bridgestone Suspends Tire Exports, Manufacturing in Russia
Bridgestone Corp. announced it is suspending production of passenger car tires at its manufacturing facility in Ulyanovsk, Russia, and is suspending tire exports to Russia this week due to Russia’s war on Ukraine. “The Bridgestone group is deeply saddened and concerned by the situation in Ukraine, and hopes for the restoration of peace and safety
Continental Suspends Production at Plant in Russia
During Continental’s year-end earnings call on Mar. 9, CEO Nikolai Setzer announced that the company would be suspending tire production at its plant in Kaluga in western Russia. Setzer said, “We have made this decision as a result of the war” and promised support for not only the 1,300 employees affected by the closure but
Nokian Tyres Moves Some Production and Stock Out of Russia
Finland-based Nokian Tyres is shifting production of some of its key product lines from Russia to Finland and the United States to prepare for possible further sanctions following Russia’s invasion of Ukraine, the company said. According to Nokian, their business is one of many grappling with how to respond as Russian forces sweep across Ukraine,
Nokian Names Russian Operations Head Pantioukhov Interim CEO
Finland-based Nokian Tyres has named Andrei Pantioukhov interim CEO, effective Jan. 1, 2017. The general manager of Nokian’s Russian operations, Pantioukhov will replace current president and CEO Ari Lejtoranta, who announced his resignation in September. Pantioukhov has worked for Nokian since 2004 and will continue his role as general manager of Nokian’s Russian operations, in
Lehigh Technologies Bringing Repurposed Rubber Tech to Europe
Atlanta, Ga.-based Lehigh Technologies, a company that produces sustainable raw materials from end-of-life tires and post-industrial rubber, has entered a joint venture with HERA Holding, a European waste resources company, to build the first micronized rubber powder (MRP) production facility in Europe. The joint venture, Lehigh Spain, will construct the MRP plant as a HERA
Update: Bridgestone Opening Russian Plant
In the second half of 2016, Bridgestone Corp. will open its first manufacturing facility in Russia. Located in the Ulyanovsk region, the plant will go by the name Bridgestone Tire Manufacturing C.I.S. The $147.7 million project will be built in cooperation with Mitsubishi Corp. Bridgestone will own 90% of the operation and Mitsubishi 10%. The
