NOKIA, Finland — Nokian Tires is purchasing land near its headquarters and tire production facility in Nokia for future development.
Nokian does not yet have plan on how it will use the three hectares (around 7.4 acres) of land. The company said while increasing production capacity in Europe is a key priority, "the area acquired in Nokia, Finland, is not part of this project, but the purchased property is intended to secure future development opportunities at the Nokia factory."
Specifics on the deal were not disclosed.
"This land acquisition creates prerequisites for future development," said Manu Salmi, executive vice president, heavy tires and Nokia factory. "The use of the property has not been decided yet, but it will allow us to continue growing in Nokia in the future."
Tire Business ranked Nokian as the 19th largest tire makers in the world, based on 2020 retail sales, in its 2021 Global Tire Report. The 2022 edition comes out Aug. 29.