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Investments and acquisitions

Investments in January−June 2020 amounted to EUR 87.5 million (148.0). This includes the construction of the new US factory, the testing center in Spain, and production investments in Heavy Tyres. Strategic projects are generally proceeding in line with plan with some delays due to COVID-19. Depreciations totaled EUR 90.3 million (61.3).

Investments in 2019 amounted to EUR 299.6 million.

In August 1, 2019, Nokian Heavy Tyres Ltd. acquired Levypyörä Oy, a Finnish heavy equipment wheel company, with annual net sales of approximately EUR 18 million, of which approximately 30% has been sales to Nokian Tyres. The acquisition had no material impact on Nokian Tyres operating profit in 2019. Read more about the acquisition.