The COVID-19 pandemic has had a significant impact on global car and tire demand. Despite this, Nokian Tyres’ short-term priorities are clear: “We will continue to provide our customers and consumers with world-class products and services, while at the same time keeping costs under strict control. We will prioritize cash flow by cutting back investments and actively managing working capital,” says Jukka Moisio, President and CEO of Nokian Tyres. “In this volatile market environment, our focus in the second half of 2020 is tactical. A more thorough review of our longer-term growth strategy will take place once the market has stabilized.”
Nokian Tyres plc is inviting drivers to share information about their favorite road trips via the new nokiantires.com/journey website. “One lucky U.S. driver who enters a road trip will win a set of tires from Nokian and several runners-up will receive secondary prizes,” say company officials.
Less than six months after opening, Nokian Tyres ’ factory in Dayton, Tennessee, earned ISO 9001 certification earlier this year.
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The achievement affirms that the company has implemented rigorous quality management processes at the facility.
The process includes audits by an independent, external certification body and by internal staff trained for the process. All three of Nokian Tyres’ global factories have now achieved ISO 9001 certification.
Nokian Tyres has had its emissions reduction targets approved by the Science Based Targets initiative. The targets cover emissions from Nokian’s operations, and make it the first tire company to receive this approval. Commitments to reduce greenhouse gas emissions by 2030 cover scope 1 for direct emissions and scope 2 for indirect emissions from purchased energy. By 2030, Nokian is committed to reducing scope 1 and 2 emissions by 40% per ton using 2015 as a base year.
This summer drivers in Finland have been using SnapSkin, a digital tire monitoring service (TMS) from Nokian Tyres, to measure their car tires. Worryingly, results have shown that up to 13% of the vehicles examined are equipped with poor summer tires. In heavy rain, the good condition of summer tires is invaluable for safety.
Patti Renner returns to Babcox Media as editor of Tire Review. Since leaving Babcox in 1997 (former editor of Underhood Service), she owned and operated a chain of specialty retail shops, worked with small businesses on their online marketing approach, and served as VP Marketing North America for a global marketing technology company.
AKRON—Despite relatively lackluster first-half financial performances, tire makers for the most part are optimistic about their second half and fiscal 2017 earnings prospects.
AKRON —Status quo reigned over the 2017 global tire rankings, even as the estimated value of the entire industry declined for a third straight year.
AKRON — The world’s leading tire makers committed more than $7.3 billion in the past year toward new plants and capacity expansions, a measurable drop from record spending of $10 billion-plus in 2015-16 but still ahead of the annualized average for the past decade.
The investment sum was buoyed by nearly $3.3 billion in spending on acquisitions, deals that involved companies with collective annual sales of more than $2.5 billion — including Qingdao Doublestar Tire Co. Ltd.’s still-pending $830 million bid to buy what amounts to a controlling interest in South Korea’s Kumho Tire Co. Inc.
NASHVILLE, Tenn. — Tennessee state officials have approved a $28.4 million state infrastructure grant to support the construction of Nokian Tyre P.L.C.’s $360 million tire factory planned for Dayton, Tenn.