Nokian Buys Heavy Equipment Wheel Company
Nokian Heavy Tyres Ltd. is buying a heavy equipment wheel company from Finland, a move which the tire company says will provide opportunities to grow, and to create new solutions for aftermarket and original equipment customers. Nokian is acquiring Levypyörä Oy, a company with annual net sales of around 18 million euros. It has two business lines, wheels and steel structures, and serves both OE customers and the aftermarket in forestry, agriculture and earthmoving applications.
“With the acquisition, Nokian Heavy Tyres can offer innovative new solutions to its existing customers and increase wheel volume as well as further improve its service level," says Manu Salmi, managing director of Nokian Heavy Tyres. "Levypyörä has already been a trusted partner of ours for many years. The acquisition provides additional growth opportunities and offers a full-service solution for our key OE and AM customers."
Lars Ojansuu, managing director of Levypyörä, says, “Being a part of a leading specialty tire manufacturer gives us a great opportunity to further grow and develop Levypyörä products and services globally and strengthen our current customer and supplier relationships."
Levypyörä was founded in 1955 and employs approximately 100 people in Nastola, Finland. Levypyörä previously was a part of Weckman Steel Corp.