Tyre maker Nokian Tyres says it has made a long-term purchase agreement with a tyre recycling joint venture, namely Antin Infrastructure Partners and Scandinavian Enviro Systems, for sustainable material. The agreement will help Nokian Tyres reach one of its key sustainability…
Tag: nokian tyres
Top European tyre makers targeted in EU raids
European Union (EU) antitrust regulators have undertaken unannounced raids on the offices of top European tyre manufacturers: Italy’s Pirelli, Germany-based Continental, France’s Michelin and Finland’s Nokian Tyres, as part of an investigation into a possible cartel deal. The European Commission,…
Nokian Tyres signs EUR200 mn sustainability-linked credit facility
Nokian Tyres says it has signed a syndicated sustainability-linked revolving credit facility of EUR200 million with a group of five banks. The interest margin of the revolving credit facility will increase or decrease dependent on Nokian Tyres meeting sustainability performance…
Nokian claims lowest emissions in tyre industry
Nokian Tyres says it has reached one of its key emissions reduction targets seven years ahead of schedule. One of the company’s science-based greenhouse gas emissions reduction targets was to cut its tyre factories’ CO2 emissions by 52% per production tonne…
Nokian Tyres introduces electric fit symbol for EV tyres
What started as a niche market has grown into an interest of the masses, as the number of electric vehicles (EV) bought each year keeps growing globally. With the expanding EV market, tyre design is also affected by the electrification…
Nokian Tyres issues EUR100 mn sustainability-linked bond
Finnish tyre maker Nokian Tyres says it has issued euro-denominated senior unsecured sustainability-linked notes in a nominal amount of EUR100 million with ISIN FI4000556444. The Notes will bear a fixed annual interest at the rate of 5.125% and will mature…
Nokian Tyres breaks ground on EUR650 mn plant in Romania
Nokian Tyres recently broke ground at its new passenger car tyre factory in Oradea, western Romania, one of the biggest greenfield investments in the country in recent years. Nokian says the factory in Oradea, which will require a total investment…
Tatneft’s purchase of Nokian Tyres ops in Russia approved
Finland-based tyre maker Nokian Tyres says it has been informed by PJSC Tatneft that the Russian government commission that monitors foreign Investments has approved PJSC Tatneft’s purchase of Nokian Tyres plc’s operations in Russia. The signing of the transaction was…
Nokian Tyres to invest US$174 mn in US facility expansion
Finland’s Nokian Tyres plans to expand its Tennessee plant in the US to double its output and produce 4 million car tyres/year by 2024. The project will add light truck tyres to Dayton’s production mix in 2023, in addition to…
Nokian Tyres running three-shift production at facility
Finnish tyre maker Nokian Tyres is increasing its production capacity for passenger car tyres significantly at the Finnish factory by moving into an uninterrupted three-shift system. With this capacity increase, approximately 80 new jobs will be created for the passenger…