Nokian Tyres is the latest company to sell its Russian operations, it will sell to from PJSC Tatneft. Source: Timberbiz
After registration formalities in Russia, the transaction will be completed, and Nokian Tyres’ operations in Russia will end.
“Due to the war in Ukraine, it was no longer feasible nor sustainable for Nokian Tyres to continue operations in Russia. The exit process has been long, but we are satisfied that we are in the final stage of completing it. Our focus is now fully on building the new Nokian Tyres, and we are excited about our new direction,” said Jukka Moisio, President and CEO of Nokian Tyres.
The final impacts of the transaction will be disclosed in the first quarter 2023 interim report on April 25, 2023.
