NOKIA, Finland (Feb. 21)—Nokian Tyres P.L.C. plans to spend $35 million to expand production capacity this year to help it keep up with demand following a strong 1999 financial performance. The Finnish tire maker recorded double-digit growth in 1999 in sales, operating profits and net profits. Nokian reported 27- and 19-percent jumps in operating and net earnings, to $44.8 million $27.4 million respectively, while sales benefited from acquisitions to climb 28 percent to $343.6 million. Nokian´s retail activities—aided by the fall addition of Isko, Finland´s largest tire wholesaler and retailer—doubled sales over 1998.
Nokian to expand tire production
Rubber & Plastics News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].