Nokian Renkaat - Company Announcement

NOKIAN TYRES' ANNUAL GENERAL MEETING 2011: PRESIDENT AND CEO KIM GRAN COMMENTS ON PLANS FOR PRODUCTION CAPACITY INCREASE

Nokia, Finland, 2011-04-07 08:00 CEST (GLOBE NEWSWIRE) -- Nokian Tyres plc
Stock Exchange Release 7 April, 2011 at 9 a.m. 

NOKIAN TYRES' ANNUAL GENERAL MEETING 2011: PRESIDENT AND CEO KIM GRAN COMMENTS
ON PLANS FOR PRODUCTION CAPACITY INCREASE 

The Annual General Meeting of Nokian Tyres plc will be held today, 7 April
2011, at 4 p.m. in Tampere, Finland. President and CEO Kim Gran will state in
his review that the company is preparing to build a new plant beside the
current Russian plant. The company is also considering adding production
capacity for heavy tyres. 

In the beginning of 2011 Nokian passenger car tyres' annual production capacity
was approximately 13 million tyres. During 2011 the new production lines in the
Russian factory will increase the annual capacity to approximately 15 million
tyres. Nokian Tyres plans to increase production capacity further and invest
approximately EUR 240 million during 2012-2013. 

“Market outlook has strengthened clearly and we need more production capacity.
We, together with the local authorities, are preparing a new plant next to the
current one, which will increase our annual car tyre capacity by 5-6 million
tyres. Negotiations about tax relieves and infrastructure investments are in
their final stage. According to plans, the new plant can be taken into use
during 2012 and the capacity increase during 2012-2014. 

We are also considering adding production capacity for heavy tyres in order to
serve the growing demand. We will make a decision on this matter during this
year”, states Kim Gran in his review. 

Mr Gran's presentation material is available at www.nokiantyres.com/investors.

Nokian Tyres plc

Antti-Jussi Tähtinen
Vice President, Marketing and Communications

Further information: Mr. Kim Gran, President and CEO, tel: +358 10 401 7336

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