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    TYRES   FI0009005318

NOKIAN RENKAAT OYJ

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Nokian Renkaat Oyj : Tyres increases production at the Finnish factory, running an uninterrupted three-shift system

11/17/2021 | 07:08am EST
Wed November 17 02:00 pm 2021 in category Company news Nokian Tyres increases production at the Finnish factory, running an uninterrupted three-shift system

Nokian Tyres plc Company Release November 17, 2021, 2:00 p.m.

Nokian Tyres is increasing its production capacity for passenger car tires significantly at the Finnish factory by moving into an uninterrupted three-shift system. With this capacity increase, approximately 80 new jobs will be created for the passenger car tire production in Nokia, Finland.

The recruiting begins immediately and will be executed by the Nordic Agency. From the beginning of 2022, the factory will run five shifts seven days a week.

"Demand for tires in our main markets has grown throughout the year and continues to be strong. We are increasing capacity and staff at the Finnish factory for the production of passenger car tires. With these actions we want to ensure the availability of our successful products also in the future," Executive Vice President Manu Salmi says.

Passenger car tire production in Nokia, Finland, switched to four shifts six days a week in August. From the beginning of 2022, the factory will run five shifts seven days a week. The total number of recruitments at the Finnish factory in 2021 have been approximately 120 people. As a result of the new recruitments, Nokian Tyres has created a total of approximately 200 new jobs in Nokia, Finland, in just over a year.

Nokian Tyres plc

Päivi Antola
SVP, Corporate Communications and Investor Relations

Investor relations: ir@nokiantyres.com, tel. +358 10 401 7581

Media enquiries: media@nokiantyres.com, tel. +358 10 401 7912

More information on the vacancies: www.nokiantyres.com/company/jobs/

Disclaimer

Nokian Tyres plc published this content on 17 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 November 2021 12:07:08 UTC.


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Sales 2021 1 649 M 1 882 M 1 882 M
Net income 2021 233 M 266 M 266 M
Net cash 2021 14,4 M 16,5 M 16,5 M
P/E ratio 2021 20,6x
Yield 2021 3,95%
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EV / Sales 2021 2,90x
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Nbr of Employees 5 080
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Mean consensus HOLD
Number of Analysts 17
Last Close Price 34,71 €
Average target price 32,20 €
Spread / Average Target -7,24%
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Jukka Matias Moisio President & Chief Executive Officer
Teemu Johannes Kangas-Kńrki Chief Financial Officer
Jukka Hienonen Chairman
Juha Pirhonen Vice President-Research & Development
Frans Westerlund Head-Information Technology & Processes
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