HELSINKI (Reuters) – Finland’s Nokian Tyres said on Friday it was shifting production of selected key product lines from Russia to Finland and the United States to prepare for possible future sanctions following Russia’s invasion of Ukraine.
The company has also begun transporting tyres out of Russia to warehouses closer to its customers, a spokesperson told Reuters, adding it was not possible to say whether the move would be temporary or permanent.
The tyre maker has been ramping up production in Finland and the United States but still produces approximately 80% of its annual capacity of 20 million tyres in Russia, where it also employs 1,600 people, the spokesperson said.
(Reporting by Essi Lehto Editing by Susan Fenton and Mark Potter)