NOKIA, Finland (May 4, 2000) — Nokian Tyres P.L.C. is negotiating "intensively" with several other unnamed tire makers regarding cooperation on research and development and off-take production and product development, the company said recently.
Nokian said it expects to complete a deal or deals by mid-summer. The company declined to identify any of the companies with which it is negotiating, other than to call them ``major´´ tire makers.
Nokian especially wants to find a partner or partners for lower cost tires so it can free up space at its factory in Nokia for higher value-added products, a company spokeswoman said. Nokian wants to increase the share of off-take-sourced tires from 5 percent of sales currently to 30 percent by 2005, the spokeswoman said.&Copy;