The Finnish company Nokian Tires to built a new tire factory in Romania. Annual production will be 6 million units/year. It will be the first tire factory with zero CO2 emissions

By RBJ
The Bucharest government approved today a state aid scheme worth approximately 100 million euros for the construction of a new tire factory in Oradea, Bihor county, Prime Minister Nicolae Ciucă announced on Wednesday.
The state aid was requested by the Finnish company Nokian Tires PLC for the construction of a new tire production factory in Oradea.
The future factory will have the capacity to produce six million tires per year, and the first tires are expected to roll off the production lines in the second half of 2024, while commercial production is expected to start in early 2025. , according to Nokian Tires officials.
The Finnish group, which already has factories in Finland and the USA, stated that this will be the first tire factory with zero CO2 emissions.
The Finnish manufacturer, which was previously responsible for 80% of Russia’s car tires, was looking for a new location for a production facility after it made the decision to pull out of Russia in response to the invasion of Ukraine.
The board of directors of the Finnish tire manufacturer Nokian Tires has decided to invest 650 million euros in Romania for the construction of a tire factory, which will be the first factory with zero CO2 emissions in the tire industry, according to a company press release.
The new greenfield plant will be located in Oradea, in northwest Romania, near the border with Hungary. The annual production capacity of the plant will be six million tires, with the possibility of expansion in the future. A tire storage and distribution facility will also be built next to the factory.
At the future factory in Oradea, where approximately 500 employees would work, tires for cars and UVs will be produced in particular and will be sold mainly on the Central European market.
The premium tire manufacturer Nokian Tires aims, in the medium term, for net sales of two billion euros, as well as an operating profit and return on capital employed at a level of 20%. In 2020, the company’s net sales were 1.3 billion euros, and the number of employees reached approximately 4,600. Nokian Tires is listed on Nasqad Helsinki.