Former Nokian Tyres plant in Vsevolozhsk will produce tires under Ikon brand
MOSCOW. April 26 (Interfax) - The tire plant in Vsevolozhsk which was purchased by Tatneft from the Finnish company Nokian Tyres, will produce tires under the Ikon Tyres brand, the company said.
According to the terms of the license agreement, the company, now the property of the oil company Tatneft, must stop using all trademarks and names owned by Nokian Tyres, with the exception of the Nordman brand.
The plant has continued its operational activities and produces a wide range of products, retaining all production processes and technologies.
"Currently, mid-price segment tires are produced under the Nordman brand. Premium tires will be produced under the new parent brand - Ikon Tyres. Ikon Tyres is honoring the obligation to service the production and extended warranties for tires previously sold in Russia under the Nokian brand, regardless of the country of production. Marketing programs will apply to tires sold in professional tire retail, both under the old and under the new brand," the release says.
As reported, the acquisition of Nokian's tire business in Russia, a 100% stake in the charter capital of Nokian Tires LLC, Hakka Invest LLC and Nokian Tire LLC, closed in March. Tatneft paid 285 million euros to the Finnish holding.
The plant in Vsevolozhsk opened in September 2005. There are 14 production lines with a capacity of 17 million tires per year.