Official inauguration of Nokian Tyres' Russian plant today
Nokian Tyres Plc
Press release 22 September 2005
OFFICIAL INAUGURATION OF NOKIAN TYRES' RUSSIAN PLANT TODAY
The official inauguration of Nokian Tyres' new tyre plant will take place today in Vsevolozhsk, Russia. The plant is already in operation, and the first tyres were manufactured in June 2005. Invitations to the ceremony have been sent to Finnish and Russian high-ranking authorities, partners in the construction project, customers, media representatives and the company's own personnel.
The new ultra-modern plant is one of Nokian Tyres' two main production facilities in which the company will invest some EUR 150 million in 2004–2007. Investments in 2005 will total approximately EUR 55 million. The company plans to manufacture some 1.9 million Nokian-branded passenger car tyres at its new plant in 2006. Two years later, production volumes are expected to be around 4 million tyres. Tyres manufactured in Russia will be sold both locally and in the company's other major markets.
The plant turned out its first Nokian Hakkapeliitta 4 winter tyres in June, and this year's production volumes are expected to amount to more than 200,000 tyres. The Russian plant has approximately 120 employees, most of them Russians. The factory has been operating in three shifts as of September. Additional recruiting and personnel training programs are in progress.
Further expansion plans have also been drawn up for the plant. The construction works of the mixing department and the warehouse have started and the premises will be taken into use in the summer 2006. The second production line will also be installed during the course of this year.
Further information available on 22 September, 2:00 p.m. onwards:
Kim Gran, President and CEO, tel. +358 3 340 7336
Raila Hietala-Hellman, Vice President, Communications and IR +358 3 340 7298