NOKIA, Finland (March 14) — Nokian Tyres P.L.C. will invest $5 million this year to expand capacity at its Nokia plant for heavy radial commercial tires, including farm and forestry tires.
The project, which will run into early 2007, will expand radial capacity by about 30 percent and total capacity by 10 percent, Nokian said. The investment includes equipment for the entire production process, from component preparation to curing.
In particular, the investment enhances the capacity for Nokian´s Tractor Industrial 2 and Country King product lines.
This project will boost Nokian´s planned capital spending this year 4.5 percent to $115 million. The project will have no significant impact on the number of jobs at the Nokia plant.