Nokian Tyres to start contract manufacturing in China
NOKIAN TYRES TO START CONTRACT MANUFACTURING IN CHINA
Nokian Tyres plc and Giti Tire (China) have signed an agreement according to which Giti Tire starts to contract manufacture car tyres in its factories in China. Giti Tire is the biggest producer and market leader in tyres in China. The co-operation will start with Nokian branded car summer tyres which will mainly be sold in North America.
The start-up of the production will be in October 2004. The target for 2005 is 500.000 tyres and the volume will be gradually increased up to 1,5 million tyres.
Nokian Tyres plc
Vice President, Communications and IR
Further information: Mr. Kim Gran, President and CEO,
tel. +358 3 340 7336.
Distribution: OMX and major media.