Nokian Tyres left Russia to find a place for its new plant in Romania on March 22, 2023. The Finnish company, well-known in the Bulgarian market brand Nokian Tours, announced it will invest almost € 650 million in a new car gym plant in Pymonia.
After Continental and Michelin, the Finnish company also preferred our northern neighbour for its new factory. It is expected to begin financing by the end of 2023.
The future plant, to be built in the town of Oradya, northwestern Romania, will have the capacity to produce 6 million tires annually, with the first tires expected to roll out of the pipeline in the first half of 2023. Commercial production is scheduled to begin in early 2024. , is specified in a press release by Nokian Tyres.
The Finnish Group, which already has plants in Finland and the US, said it will be the first zero-carbon tire plant. “We can use the green energy produced near the factory,” said the company’s operating director Adrian Kachmarčik.
The Finnish manufacturer, which previously supplied 80 per cent of car tires in Russia, was seeking a new place to build a factory after deciding to withdraw from Russia in response to its invasion of Ukraine.
On September 14, Romanian Prime Minister Nicoae Chuka met with a delegation of Nokian Tyres. The talks were related to state aid packages available for major investments and the readiness to meet the need to shift industrial powers following Russian aggression against Ukraine.
Car tire maker Nokian Tyres plans to achieve medium-term net sales of €2 billion after 2020. Reuters noted that the company’s net sales reached 1.3 billion euros and the number of employees – about 4,600.