Nokian Tyres plc plans to exit Russia, which will mean closing its tire plant in Vsevolozhsk. A year ago that plant produced 80% of the company's passenger tires.
As the war in Ukraine continues, Nokian Tyres plc is taking initial steps to invest in more tire production capacity in Europe. At the same time, President and CEO Jukka Moisio says the tiremaker is looking for “additional capacity.”
Sumitomo Rubber Industries Ltd. plans to invest $122 million to increase daily production capacity from 8,250 tires to 14,300 tires for passenger cars, light trucks and medium trucks at its plant near Buffalo, N.Y.
