Thu April 7 09:02 am 2011 in category Stock exchange releases
Nokian Tyres plc Stock Exchange Release 7 April, 2011 at 9 a.m.
The Annual General Meeting of Nokian Tyres plc will be held today, 7 April 2011, at 4 p.m. in Tampere, Finland. President and CEO Kim Gran will state in his review that the company is preparing to build a new plant beside the current Russian plant. The company is also considering adding production capacity for heavy tyres.
In the beginning of 2011 Nokian passenger car tyres’ annual production capacity was approximately 13 million tyres. During 2011 the new production lines in the Russian factory will increase the annual capacity to approximately 15 million tyres. Nokian Tyres plans to increase production capacity further and invest approximately EUR 240 million during 2012-2013.
“Market outlook has strengthened clearly and we need more production capacity. We, together with the local authorities, are preparing a new plant next to the current one, which will increase our annual car tyre capacity by 5-6 million tyres. Negotiations about tax relieves and infrastructure investments are in their final stage. According to plans, the new plant can be taken into use during 2012 and the capacity increase during 2012-2014.
We are also considering adding production capacity for heavy tyres in order to serve the growing demand. We will make a decision on this matter during this year”, states Kim Gran in his review.
Mr Gran’s presentation material is available at www.nokiantyres.com/investors.
Nokian Tyres plc
Antti-Jussi Tähtinen
Vice President, Marketing and Communications
Further information: Mr. Kim Gran, President and CEO,
tel: +358 10 401 7336
Distribution: NASDAQ OMX Helsinki, media and www.nokiantyres.com
Nokian Tyres Annual General Meeting 2011: President and CEO Kim Gran comments on plans for production capacity increase
The Annual General Meeting of Nokian Tyres plc will be held today, 7 April 2011, at 4 p.m. in Tampere, Finland. President and CEO Kim Gran will state in his review that the company is preparing to build a new plant beside the current Russian plant. The company is also considering adding production capacity for heavy tyres.
In the beginning of 2011 Nokian passenger car tyres’ annual production capacity was approximately 13 million tyres. During 2011 the new production lines in the Russian factory will increase the annual capacity to approximately 15 million tyres. Nokian Tyres plans to increase production capacity further and invest approximately EUR 240 million during 2012-2013.
“Market outlook has strengthened clearly and we need more production capacity. We, together with the local authorities, are preparing a new plant next to the current one, which will increase our annual car tyre capacity by 5-6 million tyres. Negotiations about tax relieves and infrastructure investments are in their final stage. According to plans, the new plant can be taken into use during 2012 and the capacity increase during 2012-2014.
We are also considering adding production capacity for heavy tyres in order to serve the growing demand. We will make a decision on this matter during this year”, states Kim Gran in his review.
Mr Gran’s presentation material is available at www.nokiantyres.com/investors.
Nokian Tyres plc
Antti-Jussi Tähtinen
Vice President, Marketing and Communications
Further information: Mr. Kim Gran, President and CEO,
tel: +358 10 401 7336
Distribution: NASDAQ OMX Helsinki, media and www.nokiantyres.com