Nokian 'Well-Positioned' for Growth, Performance, Says CEO
With the completion of its "large investment phase," Nokian Tyres plc is targeting $2.3 billion in sales. "We are well-positioned for organic growth and strong performance," says Jukka Moisio, the company's president and CEO.
"With our current manufacturing capacity, a valued brand and a world-class team, we are now ready to take an ambitious leap forward to become a two billion euro revenue company," he notes.
"We will continue to improve operational and commercial performance, which, together with the growing markets, will propel our company to the next level in the years ahead."
In its latest statement, Nokian cited research that says the global tire market is expected to grow 5% annually by the year 2024.
The company launched a record number of new products 2020 through 2021 "and will continue to accelerate innovation to further strengthen its competitiveness and unique positioning within the premium tire segment."
Nokian manufactures tires in Russia, Finland and the U.S.
Its plant in Dayton, Tenn., shifted to a 24/7 production schedule this past July.