Nokian Heavy Tyres to invest EUR 70 million to increase capacity
Nokian group company Nokian Heavy Tyres will invest EUR 70 million in its factory in Nokia, Finland in three years to increase production capacity by 50% and would also hire 50 new employees. The company targets to increase the maximum capacity for heavy tyre production from around 20 million kg to 32 million kg. Nokian Heavy Tyres has also signed an agreement with local labour union till 2020 end to motivate employees to develop multiple skills.
“The international heavy tyres market has developed positively and our sales have been increasing. We want to support our customers’ growth by increasing our production capacity in our current factory in Nokia, Finland. Nokia is a natural choice for location due to skilled personnel and capabilities to produce high-quality products in the modernised factory. We want to grow with a focus on customer service, safety and quality,” said Manu Salmi, Vice President for the Nokian Heavy Tyres unit.
Nokian Heavy Tyres is the global market leader in forestry tyres. The company’s experience with the changing seasons, the harsh northern environment and long-term product development efforts focusing on carefully selected product segments have made it one of the world-leading special tyre manufacturers.