Nokian targets $100 million in sales
Nokian Tyres Inc. President Dennis Gaede predicts the company will hit $100 million in sales within two years. "We've had tremendous growth in both profits and sales revenue," he recently told mtdealer.com.
Demand for snow tires increased in North America last year due to heavy winter storms, according to Gaede.
Nokian officials plan to boost tire production by more than six million units in 2004 to keep up with continued demand.
All Nokian tires are made in Finland. However, the company started building a new manufacturing plant in St. Petersburg, Russia, last month.
Nokian's parent company, Finland-based Nokian Tyres plc, achieved net sales of 112.7 million euros during the first quarter of 2004, a 17.8% increase over the same period last year.
Its operating profit climbed to 10.7 million euros during the quarter, while its pre-tex net profit increased to 9.6 million euros.