Tue March 14 02:29 pm 2006 in category Stock exchange releases
Nokian Tyres plc Stock Exchange Release March 14,2006 at 2.30 pm
Nokian Tyres' Board of Directors has decided to invest four million euros in order to expand the heavy radial tyre production capacity in Finland. This will result in an increase in Nokian Tyres' total investments in 2006 from 88 million euros to 92 million euros.
The investment includes the whole production process i.e, component manufacturing, tyre assembly and curing at the Heavy Tyre plant in Nokia, Finland. The investment enhances capacity increase of Nokian Tractor Industrial 2 product line, launched in 2004 and of Nokian Country King product line, launched in 2005 to better meet with the strong growth in demand.
The investment will increase the radial tyre capacity during the end of the year 2006 and in the beginning of 2007. When the whole investment is up and running, the radial tyre annual capacity will grow by approx. 30% and the total heavy tyre capacity approx.
10 %.
The investment has no significant impact in the amount of the personnel.
Nokian Tyres plc
Raila Hietala-Hellman
Vice President, Communications and IR
Further information: Mr. Kim Gran, President and CEO, Nokian Tyres plc, tel. +358 3 340 7336 or Mr. Antero Turunen, Managing Director, Nokian Heavy Tyres Ltd, tel. +358 3 340 7231.
Distribution: OMX and major media
NOKIAN TYRES TO INVEST IN HEAVY TYRES PRODUCTION IN FINLAND
Nokian Tyres' Board of Directors has decided to invest four million euros in order to expand the heavy radial tyre production capacity in Finland. This will result in an increase in Nokian Tyres' total investments in 2006 from 88 million euros to 92 million euros.
The investment includes the whole production process i.e, component manufacturing, tyre assembly and curing at the Heavy Tyre plant in Nokia, Finland. The investment enhances capacity increase of Nokian Tractor Industrial 2 product line, launched in 2004 and of Nokian Country King product line, launched in 2005 to better meet with the strong growth in demand.
The investment will increase the radial tyre capacity during the end of the year 2006 and in the beginning of 2007. When the whole investment is up and running, the radial tyre annual capacity will grow by approx. 30% and the total heavy tyre capacity approx.
10 %.
The investment has no significant impact in the amount of the personnel.
Nokian Tyres plc
Raila Hietala-Hellman
Vice President, Communications and IR
Further information: Mr. Kim Gran, President and CEO, Nokian Tyres plc, tel. +358 3 340 7336 or Mr. Antero Turunen, Managing Director, Nokian Heavy Tyres Ltd, tel. +358 3 340 7231.
Distribution: OMX and major media