15 Mar 2004
By Liz White, ERJ staff
Nokia, Finland-Nokian Tyres plc announced 15 Mar that it aims to terminate its JV with Amtel in Russia, Amtel-Nokian Tyres, set up to market B-segment Nokian-brand tyres in Russia.
The Finnish tyre maker said that it intends to focus in future on selling its A-segment Nokian-brand tyres in the region, and on its recently announced plan to build its own tyre factory in St Petersburg, in Russia.
At the same time, the company said, it has also leased a warehouse in the Moscow region to strengthen its distribution and sales network for its A-segment tyres.
The venture with Amtel has been the focus of considerable speculation recently, with Amtel expressing concern over its future.
The original JV with Amtel included plans for the two companies to build a new tyre factory together. Both Amtel and Nokian recently announced independent plans to build new tyre plants in the Russia.
Subscribe for unlimited access. A subscription to European Rubber Journal includes:
Already a subscriber? Log in here
