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Nokian Tyres replaces some Russian production with China subcontractor

Reuters
·1 min read
A Nokian tyre is on display at a tyre assembling centre and shop in Moscow

HELSINKI (Reuters) - Finland's Nokian Tyres on Monday said it had found a subcontractor in China to replace some of the lost output from Nokian's now divested Russian operation.

The move is part of Nokian's strategy to outsource some tire manufacturing to Asia while the company is ramping up its own production in Europe and the United States.

"We have started to build the new Nokian Tyres without production in Russia, and contract manufacturing is an essential part of these plans," the company said in a statement.

Chinese Qingdao Sentury Tire will start production of tires for Nokian's Central European market in the first half of 2023 with first deliveries expected in the second half of next year, it said.

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The firm, which used to make 80% of its passenger car tyres in Russia, is also negotiating with other potential subcontractors, it added.

(Reporting by Essi Lehto, editing by Stine Jacobsen and Terje Solsvik)