Source Pravda.Ru

New Finnish-Russian Company to Produce, Sell Tires in CIS

The Finnish Nokian Renkaat company known for its Nokian tires and her Russian associate, Amtel Holdings B.V. company, are soon to create a joint entity to produce and sell tires in the CIS. The two partners signed an agreement to this effect last Friday. According to the Finnish Turun Sanomat newspaper, the finalisation of all the technical and financial matters, will take 180 days.

The joint company will be named Amtel-Nokia Tires, its products produced at Amtel's plants in the cities of Kirov and Voronezh, Russia, and Rosava, Ukraine. Considerable investments will be needed in order to increase the output of the plants and to enhance its quality. According to the signed agreement, Nokian Renkaat will contribute about USD 10 million.

Amtel and Nokian Renkaat also intend to create, in Russia, a brand new plant to output high quality Nokian tires. This is necessary in order to fully use the capacity of the partners' sales outlet. Nokian Renkaat, the owner of a controlling portion of the new plant's stock, will become its operator, while the sales company will be owned by the partners on par.

© &to=http://www.rosbaltnews.com/' target=_blank>RosBalt

Comments
British football fans spineless to unleash World War Three in Russia during World Cup
Beautiful and terrifying: Russia shows video of Bulava ICBM underwater salvo launch
Kremlin on failed nuclear missile tests: 'Listen to President Putin and believe him!'
Kremlin wants foreign invaders out of Syria
Kremlin on failed nuclear missile tests: 'Listen to President Putin and believe him!'
What may happen to foreign tourists traveling for 2018 World Cup in Russia
Kremlin on failed nuclear missile tests: 'Listen to President Putin and believe him!'
Russian special services detain Hizb ut-Tahrir members in Crimea
Russian special services detain Hizb ut-Tahrir members in Crimea
Foreign Ministry official explains why Russia had to sell Alaska to US
Russian air defences ready to shoot down NATO drones and reconnaissance aircraft over Crimea
Just Words on Scraps of Paper
Just Words on Scraps of Paper
SWIFT refuses to cut Russia off, even if Washington insists
Russian air defences ready to shoot down NATO drones and reconnaissance aircraft over Crimea
Russia introduces new money for the first time in eight years
Russians massively break traffic rules on Crimea Bridge
Russian air defences ready to shoot down NATO drones and reconnaissance aircraft over Crimea
The Royal Wedding and the Silly Season
Russian air defences ready to shoot down NATO drones and reconnaissance aircraft over Crimea
Kremlin on failed nuclear missile tests: 'Listen to President Putin and believe him!'