Nokian Renkaat - Company Announcement

NOKIAN HEAVY TYRES TO ADJUST PRODUCTION TO REFLECT A WEAKER DEMAND

Nokia, Finland, 2011-11-25 08:00 CET (GLOBE NEWSWIRE) -- Nokian Tyres plc 
Stock Exchange Release 25 November 2011 9.00 a.m. 

NOKIAN HEAVY TYRES TO ADJUST PRODUCTION TO REFLECT A WEAKER DEMAND
- CAR TYRES' STRONG DEMAND REMAINS UNCHANGED

The production output of Nokian Heavy Tyres will be adjusted to reflect a
weaker demand. The order book for heavy tyres has decreased and demand
estimates for 2012 have weakened. 

The preliminary plan is to change the working pattern of the heavy tyre
production to a discontinued five-day three-shift model, and to reduce the work
input of approximately 100 factory employees and 15 white-collar officials with
lay-offs and possibly with personnel cuts. The production adjustments are
estimated to start in January-February 2012 and to continue until further
notice. 

The statutory negotiations related to the matters mentioned above will be
started according to the law in Finland. Negotiations will concern the whole
personnel of Nokian Heavy Tyres, i.e. a total of approximately 260 people. 

In Nokian Car Tyres the order book is strong with no signs of weakening. Nokian
Tyres plc retains the financial guidance from 4 November: In 2011, the company
is positioned to provide strong sales growth and to improve operating profit
significantly compared to 2010. 



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