28 Apr 2023 18:00

Tatneft renames Nokian Tyres factory in Leningrad Region to Ikon Tyres

ST. PETERSBURG. April 28 (Interfax) - Nokian Tyres (Leningrad Region), the former factory of the Finnish tire manufacturer Nokian Tyres, who left Russia, has been renamed Ikon Tyres as of April 27, according to the Unified State Register of Legal Entities.

At the same time, the Nokian Tire trading company changed its name to Ikon Tyre.

As reported, the Finnish Nokian Tyres in March 2023 closed a deal to sell its Russian business - a tire plant in Vsevolozhsk, Leningrad Region, as well as a property management and trading company, to Tatneft . Subsequently, Nokian Tires announced it had received 285 million euros from Tatneft for its assets in Russia.

Under its new ownership, the plant in Vsevolozhsk will produce tires under the Ikon Tyres brand. According to the terms of the license agreement, the company that has become the property of Tatneft must stop using all trademarks and names owned by Nokian Tyres, except for the Nordman brand.

The plant in Vsevolozhsk opened in September 2005; there are 14 production lines with a capacity of 17 million tires per year.