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.”
Fuel prices are in the headlines now, but Dorsey Tire Co. Inc. was tracking incredible increases well before Russia waged war in Ukraine. In January, the tire dealership’s year-over-year fuel costs had increased 70%.
Michelin Group is suspending tire production at its plant in Davydovo, Russia. The tiremaker is also stopping all exports into Russia as a result of the country's war in neighboring Ukraine.
The immediate impact of Russia’s invasion of Ukraine on container shipping has been “fairly small” so far, says Simon Heaney, senior manager, container research, for Drewry, a global shipping industry consultancy.