Nokian Renkaat - Company Announcement

STATUTORY NEGOTIATIONS AT NOKIAN HEAVY TYRES ENDED

Nokia, Finland, 2011-12-12 12:45 CET (GLOBE NEWSWIRE) -- Nokian Tyres plc Stock
Exchange Release 12 Dec 2011 at 1:45 p.m. 

STATUTORY NEGOTIATIONS AT NOKIAN HEAVY TYRES ENDED

The statutory negotiations at Nokian Heavy Tyres Ltd ended on 12 December 2011
with a decision to change the main working pattern of the heavy tyre production
to a discontinued five-day three-shift model, and to temporarily lay off
employees. With the lay-offs the company will save the salary costs of
approximately 80 man-years. Part of the adjustment measures will be carried out
through pension arrangements. Approximately 260 employees will be laid off for
a maximum of 12 months, depending on the tasks and the development of the order
intake. The lay-offs will take place during 2012. 

The adjustment measures will be taken to reflect a weaker heavy tyre demand.

Nokian Heavy Tyres Ltd produces approximately 8% of the Nokian Tyres Group's
Net sales and approximately 1.5% of the group's Operating result. 

Nokian Tyres plc

Antti-Jussi Tähtinen
Vice President, Marketing and Communications

Further information: Jarmo Puputti, Director Nokian Heavy Tyres Ltd., tel. +358
10 401 7995. 

Distribution: NASDAQ OMX, media, www.nokiantyres.com