Nokian Tyres plc Stock Exchange Release August 13, 2024 at 10:00 p.m. EEST
The European Commission has approved, under EU State aid rules, a EUR 99.5 million (RON 495.2 million) Romanian measure in favour of Nokian Tyres. The aid will support the establishment of Nokian Tyres' new zero CO2 tire factory in Oradea, Romania.
The press release by the Commission can be found here: https://ec.europa.eu/commission/presscorner/detail/en/ip_24_4222
Nokian Tyres total investment in the Romanian factory is worth EUR 650 million. The construction of the factory, which will be the first zero CO2 tire factory in the world, started in May 2023. Once completed the factory will produce approximately 6 million tires per year with an expansion potential in the future. The first tire was produced on 1 July 2024, and commercial production will start early 2025.
Further information:
Adrian Kaczmarczyk, SVP, Operation Excellence tel. +4915161822476
IR@nokiantyres.com
media@nokiantyres.com
Nokian Tyres develops and manufactures premium tires for people who value safety, sustainability and predictability. Inspired by our Scandinavian heritage, we craft innovative products for passenger cars, trucks and heavy machinery that give you peace of mind in all driving conditions. Our Vianor chain provides tire and car services. In 2023, our net sales totaled EUR 1,174 million. At the end of 2023 we employed over 3,400 professionals. Nokian Tyres is listed on Nasdaq Helsinki. Further information:www.nokiantyres.com (https://eur04.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.nokiantyres.com%2F&data=05%7C02%7Canne.aittoniemi%40nokiantyres.com%7C6beaca79c0534262d29108dc39c5b908%7C2293b824c7984957856edf1992afab2e%7C0%7C0%7C638448768890721136%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=trL9jNec68wK6nZbsmLP0ejEJz1NTO3VS5PFbyNwAXc%3D&reserved=0)