Nokian sells bicycle tyre unit to Teknikum Oy

NOKIA, Finland (Oct. 1)–Nokian Tyres P.L.C. is selling its bicycle tyre business to a new business unit of a Finnish rubber products company active in bicycle tyres and rubber footwear for about $4 million.

The buyer, Suomen Rengastehdas Oy, will take over Nokian’s bicycle tyre business in Lieksa, Finland, which generated nearly $6 million in sales last year. The new owner also will take over production of heavy inner tubes on a contract manufacturing basis for Nokian Tyres.

Suomen Rengastehdas, a new subsidiary of Suomen Kumitehdas Oy–also…

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