The former Nokian plant in Russia introduced a new brand Ikon Tires

The tire company, acquired by Tatneft PJSC from the Finnish concern Nokian Tires plc, announced a change of name and rebranding of its products. Under the terms of the license agreement, the company must stop using all trademarks and names owned by Nokian Tires plc, except for the Nordman brand. The new brand name is Ikon or Ikon Tires, the company's press service reports. Recall that in June 2022, Finnish tire manufacturer Nokian Tires decided to curtail its business in Russia, and at the end of October it became known that the company was selling Russian assets, including a plant in the city of Vsevolozhsk, Leningrad Region, to Tatneft. At the end of March 2023, the sale of the business to a new shareholder was completed. According to Nokian Tires, the cessation of tire supplies from Russia will negatively affect the company's sales, especially in Central European countries, in the next 2-3 years.

To reduce the impact of this factor, Nokian Tires is expanding its production capacity in Finland and the US, and is also investing 650 million euros in the construction of a new car tire plant in Romania. It is worth noting that Tatneft had its own tire business, but last year the company sold it to Tatneftekhiminvest-holding, a structure coordinating the activities of Tatarstan's petrochemical complex enterprises. The production capacity of the plant in Vsevolozhsk is 16 million tires per year. The company continues to operate and produces a wide range of products.