NOKIA, Finland—Reacting to the Russian invasion of Ukraine, Nokian Tyres P.L.C. is preparing for potential disruptions.
The Finnish tire maker in an official statement Feb. 25, said all of its operations are running normally and that its previous plans to move main production lines from Russia to Finland and the U.S. should help to mitigate impacts resulting from Russia's invasion of Ukraine.
Nokian's crisis management team is engaged in addressing supply chain issues as they arise.
"We are also monitoring closely the development of sanctions and potential counter-sanctions," Nokian said. "We have activated our contingency plans to mitigate the financial and operational impacts to our business. For example, we are shipping tires closer to our customers, securing the raw material supply to our factories, transferring production of selected key product lines from Russia to Finland and to the US, and securing transport capacity from Russia with existing and new service providers.