Ikon starts mass production of tires at former Nokian plant in Russia

VSEVOLOZHSK, Russia—Ikon Tyres Co. has started mass production of own-brand tires at the Russian plant acquired last year from Nokian Tyres.

The summer tires, which will go on sale in the spring of 2024, will be the first tires to carry the Ikon Tires brand, the tire maker announced in December.

Made at the former Nokian plant in Vsevolozhsk, the products will include premium Ikon Autograph tires and the mid-priced Ikon Nordman tires.

The plant near Saint Petersburg has the capacity to produce 17 million units a year of radial passenger car and light truck tires.

According to Ikon Tyres, all premium and mid-range tires produced at the site—in winter and summer categories—will carry the Ikon brand.

Ikon Tyres was created following the acquisition of Nokian's assets by Tatneft in March last year, as part of the Finnish group's exit from Russia. During the transition period, the Russian company said it produced winter tires without the "mother brand" on the sidewall.

According to Ikon Tyres, since the takeover it has produced tires at the Vsevolozhsk passenger car tire plant without stopping operations for "a single day."

"The plant operates around the clock and produces summer and winter tires for passenger cars and SUVs for the markets of Russia, Kazakhstan and Belarus," it said. Export to European Union countries is limited by sanctions and, therefore, production is not operating at full capacity.

"Currently, Ikon Tires has more than 1,100 employees (and) the average length of service of the staff is more than 10 years," said Andrey Pantyukhov, general director of Ikon Tyres.

Nokian generated €336 million ($364 million according to current exchange rates) from its tire production operations in Russia in 2021.