Tue May 22 12:33 pm 2012 in category Stock exchange releases
Nokian Tyres plc Stock Exchange Release 22 May 2012 12:30 p.m.
Nokian Tyres’ new factory, next to the current one in Russia, is gearing up and the first tyres will be produced in June. Two lines will commence production in the new factory during 2012, and two more lines will be made operational in 2013-2014. After that the annual capacity of the new factory will be approximately six million tyres and the total annual capacity for both Russian factories will be approximately 17 million tyres.
The factory in Nokia will continue to produce tyres mainly for the needs of the Nordic countries. As Nokian Tyres overall capacity is growing, the company is planning to change the working model of the car tyre production in Nokia to a 5-day full-time production schedule starting in July 2012. This change creates a need to cut down outsourced labour and approximately 120 employees. There is a EUR 30 million production modernization program going on in the Nokia factory, which will reduce the need for work force.
The order book for car tyres is still good and the company’s financial guidance remains unchanged:
In 2012, the company is positioned to improve net sales and operating profit compared to 2011.
Nokian Tyres plc
Antti-Jussi Tähtinen
Vice President, Marketing and Communications
Further information: Esa Eronen, Vice President Production Technology, tel. +358 10 401 7281
Distribution: NASDAQ OMX, media, www.nokiantyres.com
Nokian Tyres plc: Production in the new factory in Russia will commence in June 2012 – work shift system about to change in the Finnish factory
Nokian Tyres’ new factory, next to the current one in Russia, is gearing up and the first tyres will be produced in June. Two lines will commence production in the new factory during 2012, and two more lines will be made operational in 2013-2014. After that the annual capacity of the new factory will be approximately six million tyres and the total annual capacity for both Russian factories will be approximately 17 million tyres.
The factory in Nokia will continue to produce tyres mainly for the needs of the Nordic countries. As Nokian Tyres overall capacity is growing, the company is planning to change the working model of the car tyre production in Nokia to a 5-day full-time production schedule starting in July 2012. This change creates a need to cut down outsourced labour and approximately 120 employees. There is a EUR 30 million production modernization program going on in the Nokia factory, which will reduce the need for work force.
The order book for car tyres is still good and the company’s financial guidance remains unchanged:
In 2012, the company is positioned to improve net sales and operating profit compared to 2011.
Nokian Tyres plc
Antti-Jussi Tähtinen
Vice President, Marketing and Communications
Further information: Esa Eronen, Vice President Production Technology, tel. +358 10 401 7281
Distribution: NASDAQ OMX, media, www.nokiantyres.com