Thu February 15 09:26 am 2007 in category Stock exchange releases
Nokian Tyres plc Stock Exchange Release 15 February 2007 9.10 a.m.
Nokian Tyres' Board of Directors has decided to start the expansion and capacity increase at its Russian factory. As a result of the start-up of Phase II, the output of the Vsevolozhsk factory will more than double with the target to reach the production of 10 million tyres by the year 2011.
The current size of the Vsevolozhsk factory is sufficient for the production of roughly 4 million tyres. A new 32.500 square meter production hall will be build side by side to the current factory enabling the capacity to increase to the targeted level. The earthwork at the site will start during the spring 2007. The building is to be completed in early 2008 and the installation of the machinery and equipment will start in February 2008. The production output will see stable growth annually in line with the market growth. The total investment for the years 2007-2010 will be approximately 195 million euros and of that 66 million euros will be allocated to the year 2008.
The Russian factory produces Nokian-branded car summer and winter tyres. The production started in the summer 2005. The factory was expanded in 2006 by building a mixing department and warehouse. Two production lines are operating at the factory, the third production line is being installed and commissioned and the installation of the fourth one will start in the summer 2007. The total investment by the end of year 2006 totals 137 million euros.
Nokian Tyres plc
Raila Hietala-Hellman
Vice President, Corporate Communications
Further information: Mr. Kim Gran, tel. +358 3 340 7336.
NOKIAN TYRES TO ACCELERATE THE START-UP OF THE PHASE II EXPANSION AT ITS RUSSIAN FACTORY
Nokian Tyres' Board of Directors has decided to start the expansion and capacity increase at its Russian factory. As a result of the start-up of Phase II, the output of the Vsevolozhsk factory will more than double with the target to reach the production of 10 million tyres by the year 2011.
The current size of the Vsevolozhsk factory is sufficient for the production of roughly 4 million tyres. A new 32.500 square meter production hall will be build side by side to the current factory enabling the capacity to increase to the targeted level. The earthwork at the site will start during the spring 2007. The building is to be completed in early 2008 and the installation of the machinery and equipment will start in February 2008. The production output will see stable growth annually in line with the market growth. The total investment for the years 2007-2010 will be approximately 195 million euros and of that 66 million euros will be allocated to the year 2008.
The Russian factory produces Nokian-branded car summer and winter tyres. The production started in the summer 2005. The factory was expanded in 2006 by building a mixing department and warehouse. Two production lines are operating at the factory, the third production line is being installed and commissioned and the installation of the fourth one will start in the summer 2007. The total investment by the end of year 2006 totals 137 million euros.
Nokian Tyres plc
Raila Hietala-Hellman
Vice President, Corporate Communications
Further information: Mr. Kim Gran, tel. +358 3 340 7336.