Support The Moscow Times!

Russia Boosts Nokian Q1

HELSINKI — Finnish winter tire maker Nokian Renkaat reported a bigger-than-expected rise in quarterly profit thanks to strong growth in Russia.

First-quarter operating profit rose 45 percent to 105 million euros ($136.5 million). Sales grew 33 percent to 384 million euros. Sales in Russia rose 67 percent to 171.5 million euros.

Nokian Renkaat is building a new plant in Vsevolozhsk next to its old plant, and its annual production capacity in Russia is estimated to increase to 14 million tires this year from 11 million. The firm exports some 50 percent of the tires it makes in Russia.


Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

As we approach the holiday season, please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world’s largest country.