Nokian Tyres: demand is exceeding supply

ERJ staff report (TB)

Nokia, Finland — Nokian Tyres PLC expects to expand production capacity more than 30 percent this year to keep pace with rising demand, which the company said likely will exceed capacity throughout 2011.

The high demand helped Nokian triple its operating profit in the quarter ended March 31 to $98.8 million on 57.3-percent higher sales of $395.2 million. Net earnings also tripled to $85.2 million.

Nokian expanded output by more than 60 percent in the quarter and will expand capacity throughout the year…

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