NOKIA, Finland-Nokian Tyres Ltd. will invest more than $20 million to increase production capacity for high performance tires and retreading materials at its plant in Nokia. Construction of a 43,500-sq.-ft. addition is scheduled to be completed by next summer. When fully on line, the expansion will boost passenger tire output at the plant to 4 million units per year from the current 3 million, the company said. Production capacity for retreading materials will be doubled.
Separately, Nokian announced that its operating earnings for the first half of 1995 were unchanged from last year at $6.6 million, while sales grew 9 percent to $75 million.
Avon Rubber relocates HQ
MELKSHAM, England-Avon Rubber P.L.C. has moved its corporate headquarters from Melksham to the site of a former manufacturing complex in nearby Bradford-on-Avon.
The relocation is part of the planned redevelopment of the 5.5-acre Bradford-on-Avon site, which Avon closed in 1993, and includes the company's executive directors and several departments, including legal, finance and corporate planning.
Avon's European operations will remain based in Melksham.