Nokian Heavy Tyres Ltd Acquires a Finnish Heavy Equipment Wheel Company Levypyörä Oy
Nokian Tyres plc Company release August 1, 2019
In line with Nokian Heavy Tyres growth strategy, the company is acquiring a Finnish heavy equipment wheel company Levypyörä Oy. With its two business lines, wheels and steel structures, Levypyörä serves several original equipment (OE) manufacturers and aftermarket customers (AM) in forestry, agriculture and earthmoving applications. Annual net sales of Levypyörä is approximately EUR 18 million.
“With the acquisition, Nokian Heavy Tyres can offer innovative new solutions to its existing customers and increase wheel volume as well as further improve its service level. Levypyörä has already been a trusted partner of ours for many years. The acquisition provides additional growth opportunities and offers a full-service solution for our key OE and AM customers”, says Manu Salmi, Managing Director, Nokian Heavy Tyres.
“Being a part of a leading specialty tire manufacturer gives us a great opportunity to further grow and develop Levypyörä products and services globally and strengthen our current customer and supplier relationships”, says Lars Ojansuu, Managing Director, Levypyörä.
Levypyörä (levypyora.fi/en) was founded 64 years ago and it employs approximately 100 people in Nastola, Finland. The company is a premier provider of wheels for heavy OE and aftermarket applications. It is committed to developing eco-friendly processes such as reducing CO2 emissions and not using solvents in painting. Levypyörä was a part of Weckman Steel corporation.
Manu Salmi, Managing Director, Nokian Heavy Tyres Ltd, tel. +358 10 401 7680
Lars Ojansuu, Managing Director, Levypyörä Oy, tel. +358 50 381 9109
Nokian Tyres is the world’s northernmost tire manufacturer and one of the most sustainable companies in the industry. We offer peace of mind in all conditions by developing high-quality, safe and eco-friendly tires for passenger cars, trucks and heavy machinery. We are especially well known for our innovative winter tires. Our group also includes the Vianor chain, specializing in vehicle maintenance and tire services. In 2018, the company’s turnover was approximately EUR 1.6 billion and it employed some 4,800 people. Nokian Tyres is listed on Nasdaq Helsinki. Further information: www.nokiantyres.com