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Mar 3

Ukraine Crisis: Fallout Looms Over Tire Majors’ Plants in Russia

London – European tire makers are monitoring the implications of Western governments’ response to Russia’s invasion of Ukraine, including potential trade bans, currency shifts and other sanction effects.

Among the most exposed is Finnish manufacturer Nokian Tyres, which generated €336 million of sales from its tire production operations, based in Vsevolozhsk, Russia last year.

The plant, near Saint Petersburg, has capacity to produce 17 million units/year of radial passenger car and light truck tires and employs over 1,600 people. …

Source: European Rubber Journal

Tire and Rubber Association of Canada

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