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    TYRES   FI0009005318

NOKIAN RENKAAT OYJ

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Nokian Renkaat Oyj : Testing has begun at the Nokian Tyres Spain Test Center

05/12/2021 | 05:12am EDT
Wed May 12 12:00 pm 2021 in category Company news Testing has begun at the Nokian Tyres Spain Test Center

Nokian Tyres plc Company Release May 12, 2021, 12:00 a.m.

Nokian Tyres has begun testing in the new Test Center in Santa Cruz de la Zarza, Spain. All 10 tracks are being used to test the tires in extreme conditions, and the crown jewel of the Test Center is the 7-kilometer-long oval track that circles the area.

'All our test centers are investments in innovativeness, and the expansion of testing activities is a big and important leap for us. The versatile tracks and modern equipment of the Spain test center enable us to test tires on wet and dry, so that heavy rain or intense heat will not bring any surprises. The Spain Test Center, combined with our Ivalo winter Test Center in Lapland, takes our overall testing capability to the highest possible level,' says Olli Seppälä, Head of R&D.

The Test Center enables the company to speed up the product development cycles and to strengthen its position as a manufacturer of premium tires.

'Now we can test our tires in our own test center in all the conditions they are developed for. This is a big competitive advantage for us - especially when considering the products developed for the Central European market as well as for the North American market,' Seppälä continues.

The new test center already has a nickname: Hakka Ring. In an internal name competition, Nokian Tyres' employees suggested around 150 different nicknames for the new test center. Hakka Ring was the winner as Hakka and Hakkapeliitta are the well-known products brands by Nokian Tyres, and as the most famous tracks in the world are called 'Ring'.

Construction work of the test center began in 2018. Due to COVID19, construction work was halted for a brief period but continued once the situation stabilized and necessary safety measures were taken. The project is an important part of Nokian Tyres' growth.

'Similar test centers are rarely built in the world, and the world-class test conditions increase our credibility as a premium tire manufacturer,' says Jukka Kasi, SVP Products and Innovations.

Now all the different tracks have been finalized, a team is being gathered around the test center, and also the round building in the heart of the testing center, the Visitor Center, is ready for use.

'The entire project has required long-term concentration, as well as great passion, aspiration and professionalism to turn a dream into reality,' Kasi praises the Nokian Tyres team.

Nokian Tyres Spain Test Center Facts:

  • The location in Spain enables year-round testing of summer, all-season, and winter tires.
  • In the 300-hectare area, there are several test tracks for dry and wet testing, as well as the high-speed oval enabling testing in the speed of up to 300 km/h.
  • The center uses many environmentally friendly technologies, such as over 1,000 solar panels, water recycling, and white roofs.
  • Nokian Tyres is involved in researching new bio-based materials near the site to enable even more sustainable tire production in the future.
  • Spain test center is our third testing facility. It complements our tire testing network, which consists of a 700-hectare site in Ivalo, Finnish Lapland, and a site near our Finnish headquarters in Nokia.

Nokian Tyres plc

Päivi Antola
SVP, Corporate Communications and Investor Relations

Requests for additional information: Tarja Pennanen, Corporate Communications Manager, media@nokiantyres.com

Disclaimer

Nokian Tyres plc published this content on 12 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 May 2021 09:11:03 UTC.


© Publicnow 2021
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Sales 2021 1 521 M 1 807 M 1 807 M
Net income 2021 211 M 251 M 251 M
Net cash 2021 7,64 M 9,08 M 9,08 M
P/E ratio 2021 23,1x
Yield 2021 3,85%
Capitalization 4 895 M 5 819 M 5 814 M
EV / Sales 2021 3,21x
EV / Sales 2022 3,00x
Nbr of Employees 4 982
Free-Float 89,8%
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Jukka Matias Moisio President & Chief Executive Officer
Teemu Johannes Kangas-Kärki Chief Financial Officer
Jukka Hienonen Chairman
Juha Pirhonen Vice President-Research & Development
Frans Westerlund Head-Information Technology & Processes
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