Nokian Renkaat postpones Central Europe factory plans

HELSINKI Wed Feb 6, 2013 4:17am EST

HELSINKI Feb 6 (Reuters) - Tyre maker Nokian Renkaat postponed its plan to build a new factory in Central Europe, its chief executive said on Wednesday.

"We have not abandoned it, but we have postponed it due to the weakness of the Central European economy and the market," CEO Kim Gran told a news conference.

He noted the company has expanded its capacity in Russia and could soon be able to ramp up its annual production from around 16 million to 25 million tyres at its existing factories. (Reporting By Jussi Rosendahl)

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