Nokian Heavy Tyres Ltd. commences change negotiations in Nokia factory, Finland

Nokian Tyres plc Press Release May 21, 2024, at 11:00 a.m. EEST

Nokian Heavy Tyres Ltd. commences change negotiations to adapt production to the market and demand situation. The change negotiations concern the Nokia factory employees of Nokian Heavy Tyres Ltd., altogether some 160 people.

The possible adjustment measures considered by the company could be layoffs of Heavy Tyres factory employees and shortening of their daily and weekly working time. The adjustment measures are preliminary planned to be implemented as temporary layoffs due to productional and financial reasons for a maximum period of 90 days per employee. The measures are planned to be implemented during the rest of 2024 and the first quarter of 2025. The negotiations will last for two weeks.

More information: Manu Salmi, Managing Director, Nokian Heavy Tyres Ltd., tel. +358 50 364 8692 on Tuesday May 21, 2024 at 12:00–12:30 p.m. EEST

media@nokiantyres.com

Nokian Tyres develops and manufactures premium tires for people who value safety, sustainability and predictability. Inspired by our Scandinavian heritage, we craft innovative products for passenger cars, trucks and heavy machinery that give you peace of mind in all driving conditions. Our Vianor chain provides tire and car services. In 2023, our net sales totaled EUR 1,174 million. At the end of 2023 we employed over 3,400 professionals. Nokian Tyres is listed on Nasdaq Helsinki. Further information: www.nokiantyres.com