Investments and acquisitions
Investments in January−March 2020 amounted to EUR 50.9 million (54.3). This comprises the construction of the new US factory, the testing center in Spain, production investments in the Russian and Finnish factories and molds for new products. Strategic projects are generally proceeding in line with plan with some delays due to COVID-19. Depreciations totaled EUR 34.1 million (30.5).
Investments in 2019 amounted to EUR 299.6 million (226.5). This comprises the construction of the new US factory, the testing center in Spain, production investments in the Russian and Finnish factories, molds for new products, and ICT and process development projects. All strategic projects are proceeding in line with the plan. Depreciations totaled EUR 125.2 million (93.4). The increase is mainly due to the new IFRS 16 standard.
As of August 1, 2019 Nokian Heavy Tyres Ltd Acquired a Finnish Heavy Equipment Wheel Company Levypyörä Oy. Read more