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The Russian oil company Tatneft, which bought its Russian assets from the Finnish concern Nokian Tires, has announced the rebranding of both its “new thing” and the tire products it produces. The AvtoVzglyad portal reports that from now on the Nokian brand in Russia has turned into Ikon. Accordingly, Nokian Tires – in Ikon Tires (“Ikon Tyers”).
Under the terms of the deal for the sale of the Nokian tire business in Russia, which took place at the end of March 2023, the Nordman brand was transferred to the new owner. As a result, PJSC Tatneft, in addition to the Nokian Tires production site in Vsevolozhsk, received 100% of the shares of Hakka Invest LLC, which was engaged in the lease and management of Nokian Tires real estate in Russia. The deal was valued at 285 million euros.
It is known that the plant in Vsevolozhsk is equipped with 14 production lines and can produce up to 17 million tires per year. According to the official statement of the new owner, it now produces “mid-price segment tires under the Nordman brand.” Premium tires will be produced under the new parent brand – Ikon Tires.
Ikon Tires also stated that it assumes all obligations to service the production and extended warranties for Nokian Tires tires previously sold in Russia, regardless of their country of origin.
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