Finnish car tyre plant transfers to Russian jurisdiction

26.03.2023, Russia.

100% of the Nokian Tyres plant in Vsevolozhsk, Leningrad Region, was taken over by Tatneft, according to data recorded in the Unified State Register of Legal Entities on 24 March.

In the middle of March the previous owner of Nokian Tyres plant reported that it had received 283 million Euros as payment for production facilities in Russia. A month earlier, the Federal Antimonopoly Service of Russia had approved a deal between TATNEFT PJSC and Nokian Tyres to acquire a 100% stake in Nokia Tyres LLC, Hakka Invest LLC and Nokian Tyres LLC.

The enterprise in question was the main producer of tyres for automobiles of Finnish concern in Europe. It produced about 80% of all products of the company. The plant was built in 2005. For the employees of the company in one of the nearby communities was built small residential complex.

Source: Rossa Primavera News Agency