Nokian to revamp retreading business

NOKIA, Finland (June 13)—Nokian Tyres P.L.C. has bought a retreading plant in St. Petersburg, Russia, and announced plans to reorganize its growing retreading business. The newly acquired retreading facility, called Eurobandag, is a 9-year-old operation producing 2,000 truck retreads a year. It employs 11 and generated just under $500,000 in sales last year, Nokian said. It becomes Nokian's fourth retreading plant, joining ones operated in Finland, Norway and Sweden by the firm's Vianor tire distribution subsidiary. The retreading business unit will encompass the four retreading factories, Nokian's Noktop retread materials production and related purchasing operations, the firm said. The unit will have approximately 140 employees.