Nokian opens Romania factory
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Finland-based Nokian Tyres said it had inaugurated a EUR650m (US$725.5m) plant in Romania's northwestern city of Oradea, Bihor county, claimed to be the world’s first tyre manufacturing factory with zero carbon-dioxide emissions.
"[The factory] will strengthen our capability to serve our customers in Central Europe and beyond and support our growth as planned toward net sales of EUR2bn," president and CEO Jukka Moisio said in a press release cited by SeeNews.com.
The facility includes a production plant, a distribution unit for storage and distribution of tyres, as well as mixing, utility and administrative buildings, spanning a combined built-up area of around 100,000 sq m. The factory is expected to employ around 300 people by the end of the year, with recruitment to continue into 2025 in order to reach its planned headcount of 500 staff.
Commercial production will begin in early 2025 and capacity will ramp up to 6m tyres per year, with expansion potential in the future. The plant will focus on producing passenger car tyres for sale in Central Europe.
Nokian Tyres would receive a state aid of around EUR100m from the Romanian government and a EUR150m investment loan from the European Investment Bank to finance its sustainable tyre manufacturing investment.
Nokian announced a greenfield investment project to build a passenger car tyre factory in Romania in November 2022, as part of plans to secure the supply of its products after exiting Russia a month earlier.
Ground was broken in May 2023.
"Nokian opens Romania factory" was originally created and published by Just Auto, a GlobalData owned brand.
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