Nokian’s Board Reviews Details for Next Tire Factory
Nokian Tyres plc is continuing discussions on where to build a third tire factory, but isn’t yet ready to announce its plans. In a statement provided to Modern Tire Dealer, the company says the issue is “under further investigation.”
“The operative management has presented the plans to the board and the matter is under further investigation. There is nothing new to report on the matter at this point. We will communicate on the matter when there is something to report.”
Nokian currently manufactures tires in Nokia, Finland, and in Vsevolozhsk, Russia. The Russia factory began production in 2005.
In a conference call following the appointment of Andrei Pantioukhov as Nokian’s interim president and CEO, Petteri Wallden, chairman of the tire company’s board of directors, was asked whether the change in leadership would affect the timeline for a decision on the plant. Wallden said the process was continuing, and that the board was seeking clarification of a few issues.
Pantioukhov, who begins his term as the company's interim leader Jan. 1, will continue work as general manager of Nokian's operations in Russia. He said due to personal and family issues, he is not a candidate for the permanent CEO and president position.