Sale of webs and tyre-covers in the TYRE PLUS center, Moscow, September 24, 2004.
Photo: Alexey Kudenko
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Nokian Accelerates Construction in Russia
Finnish tyre maker Nokian Tyres announced yesterday its intention to speed up the 2nd stage construction of the company’s works in Vsevolzhsk, the Leningrad region, to reach the 4-million unit capacity in 2008 (previous target set forth such volume for 2009). Then, it will annually produce up to 8 million tyres.
Nokian had launched construction of the works early past spring. The building was erected at the end of January, equipment will be installed this spring. Production start-up is scheduled for this year with 1.5 million tyres to be produced by 2006. Overall investments made in the 1st stage of the project are estimated at 140 million euros.
SIBUR, which has four works under management in Russia, has recently announced it is in cooperation talks with Nokian. Sources with the Finnish company have confirmed Nokian is negotiating with SIBUR, but declined to elaborate. According to the data available to Kommersant, the companies could be in talks about the off-take, i.e. tyre production at SIBUR facilities by Nokian order.
In 2005, Nokian will invest 50 million euros in its Russian projects, including Vianor retail chain.
www.kommersant.com
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