Nokian Tyres says discontinues all operations in Russia

HELSINKI, Mar 30 (PRIME) -- Finland's tire producer Nokian Tyres has discontinued all activities in Russia after selling the business, the company said in a statement on Thursday.

"Company Nokian Tyres plc has completed the sale of its assets in Russia to Tatneft JSC after finishing registration formalities in Russia. Now, Nokian Tyres has discontinued all operations in Russia," the company said.

Earlier in March, the company said it had sold its assets to Russia's Tatneft for 23 billion rubles. Nokian Tyres announced the plan to quit the Russian market in June 2022 having worked in the country since 2005.

(76.9781 rubles – U.S. $1)

End