Wed May 5 03:15 pm 2010 in category Stock exchange releases
Stock exchange release 5 May 2010 at 3:20 p.m.

Nokian Tyres to enter into statutory negotiations in Nokia

Nokian Tyres plc will initiate statutory negotiations on 10 May 2010 with the aim of adjusting the Nokia plant's production and supporting functions resources to the stabilised order base and shift system. The adjustment measures are estimated to concern approximately 10 office employees and 60 blue-collar employees. The proposal for these statutory negotiations has been issued today.

The planned adjustment measures consist of changing some of the rotating shift lay-offs initiated in January 2009 to full lay-offs effective until further notice and terminating some employment contracts. Those subject to the threat of employment termination will receive an action plan supporting new employment, and new employment solutions will be sought.

Nokian Tyres plc

Antti-Jussi Tähtinen
Vice President, Marketing and Communications

Further information: Technical Director Esa Eronen,
tel. +358 10 401 7281.

Distribution: NASDAQ OMX and the key media