Statutory negotiations at Nokian Tyres’ Finnish factory ended

Nokian Tyres plc Stock Exchange Release 28 September 2015 at 11:15 a.m.

The statutory negotiations concerning workers and staff in car tyre production and administration at Nokian Tyres’ Finnish factory ended today. Adjustments to production capacity utilization as well as cost savings will be achieved by reducing 122 people. Statutory negotiations concerned a total of 900 people.

- Personnel reductions are always unfortunate. Despite the cuts the role of our Nokia factory remains important, not only for the volumes it produces but also in developing new products and production processes, says Ari Lehtoranta, CEO of Nokian Tyres.

The company will organize training and support programs for the dismissed employees to improve their re-employment opportunities.

Nokian Tyres plc

Antti-Jussi Tähtinen
Vice President, Marketing and Communications

Further information: Mr. Ville Nurmi, Vice President Human Resource, tel. +358 10 401 7268
 

Distribution: NASDAQ Helsinki, media and www.nokiantyres.com

Nokian Tyres is the only tyre manufacturer in the world that focuses on customer needs in northern conditions. The company supplies innovative tyres for cars, trucks and special heavy machinery mainly in areas with special challenges on tyre performance: snow, forests and harsh driving conditions in different seasons. Nokian Tyres’ product development is consistently aiming for sustainable solutions for safety and the environment, taking into account the whole life cycle of the tyre. A part of the Nokian Tyres group, the tyre chain Vianor has over 1,300 outlets in 27 countries. In 2014 Nokian Tyres had over 4,200 employees and net sales of approximately 1,4 billion euros. Nokian Tyres’ share is listed on the NASDAQ Helsinki. Further information: www.nokiantyres.com

About Us

Nokian Tyres is the world’s northernmost tyre 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 tyres for passenger cars, trucks and heavy machinery. We are especially well known for our innovative winter tyres. Our group also includes the Vianor chain, specialising in vehicle maintenance and tyre services. In 2017, the company’s turnover was approximately EUR 1.6 billion and it employed some 4,600 people. Nokian Tyres is listed on Nasdaq Helsinki. Further information: www.nokiantyres.com

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