Russia war in Ukraine
Faced with international sanctions on products manufactured in Russia, Pirelli is planning to use factories in Romania and Turkey to produce tires for European markets that it previously sourced from plants in Russia.
Titan International has halted investment in its Russian operations, due to the ongoing war in Ukraine and global sanctions on Moscow.
Continental A.G. has temporarily restarted production at its passenger tire plant in Kulaga, Russia, in an effort to keep local workers safe.
Aftermarket shipments of most tire types throughout Europe were up comfortably in the first quarter, but the pace of growth slowed in March due to uncertainties arising from the Russia - Ukraine war.
Nokian Tyres said it will increase capacity at its plants in the U.S. and Finland due to recent European Union sanctions imposed on Russia.
Nokian is stepping up plans to build a second factory in Europe to replace the capacity at its 16-year-old plant in Russia, the future of which is uncertain due to Russia's invasion of Ukraine.
Tire manufacturers are doing their part to make business difficult for Russia while supporting Ukraine and its refugees as a result of the Russian invasion of Ukraine.
Against Vladimir Putin's threats of nationalization in Russia, Nokian Tyres says it will continue operations at its Russian plant while seeking additional capacity elsewhere.
Yokohama Rubber Co. Ltd. has become the latest tire maker to shut down production in Russia.
Pirelli is throttling back its activities in Russia, amid the ongoing war in Ukraine and continued supply-chain disruptions in the region, and has set up a "crisis committee" to monitor ongoing developments there.