Wed January 15 12:00 am 2003 in category Stock exchange releases
NOKIAN TYRES AND MATADOR TO START CONTRACT MANUFACTURING Nokian Tyres plc and Matador AS have today signed a contract manufacturing agreement. According to the agreement Matador will manufacture Nokian branded speed categories S, T and H car summer tyres at its factory in Slovakia. The tyres will be sold to the East European markets and will be part of the total Nokian product range.
Through contract manufacturing Nokian Tyres ensures its growth potential in East Europe, where tyre markets are rapidly growing. Production capacity at Nokian Finland factory will be freed to produce ultra high performance tyres.
First tyres will be sold during the first quarter of the year 2003. It is the target that Matador will manufacture 100.000 Nokian branded tyres in 2003 and increase the volume to 300.000 tyres during 2004- 2005.
The agreement is valid until the end of the year 2005 and after that on a one-year basis.
Nokian Tyres plc
Vice President, Communications and Investor Relations
Further information: Mr. Kim Gran, President and CEO,
Tel + 358 3 340 7336
Distribution: HEX and major media