Nokian Renkaat postpones Central Europe factory plans
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)
- Exclusive: Radar data suggests missing Malaysia plane deliberately flown way off course - sources
- Investigators focus on foul play behind missing plane: sources |
- Kremlin website hit by 'powerful' cyber attack
- West prepares sanctions as Russia presses on with Crimea takeover |
- Search for Malaysian plane may extend to Indian Ocean - U.S |