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Nokian Tyres defends decision to stay in Russia -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO A Nokian tire is displayed at a Moscow tyre-assembling center and shop on August 8, 2014. Finnish winter tire maker Nokian Renkaat revealed a larger-than-expected drop in operating profits in the second quarter due to falling Russian sales. REU

HELSINKI, (Reuters) – Finland’s Nokian Tyres PLC said Tuesday that it will continue Russian production to protect its control over the local plant. This comes at a time many businesses are suspending operations in protest of Russia’s invasion.

The company stated that it will continue to run the Russian passenger car tire factory and would like to ensure that Nokian Tyres continues to manage the facility.

Nokian Tyres indicated that they would accelerate production in Finland as well as in America and search for more capacity.

Additionally, it stated that its goal is to be geographically diverse in manufacturing.

Russia describes its actions in Ukraine as a “special operations”.

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