Where Are Nokian Tires Made & Who Owns The Company?

Finnish tire company Nokian Tyres has had to strategically diversify its manufacturing locations in recent years — and not to cut costs or increase output, but to avoid geopolitical risk and cultivate a more stable supply chain. In years past, a large chunk of its passenger car tires (around 80%) were manufactured in Russia. However, after Russia's invasion of Ukraine in 2022, Nokian Tyres made the hugely important decision to exit the Russian market and ramp up production elsewhere. This certainly complicates the question about where their tires are made today.

In the years since moving away from manufacturing in Russia, Nokian's manufacturing operations have spread across multiple regions. For the Nordic market, tires are produced in Finland. For the American market, the company operates a plant in Dayton, Tennessee. The latest addition to its global footprint is a new factory in Oradea, Romania, which was selected after a rigorous process of assessing a roster of potential sites around the world. This Romanian facility, which was said to begin production in early 2025, will supply tires to the company's European customers.

The shift away from Russia was not merely a reactionary move — it was a strategic necessity for Nokian Tyres. The war helped the tire brand's executives realize the dangers of over-concentration in one country, especially in light of political instability and supply chain disruptions. As such, factors like EU and NATO membership, availability of skilled labor, infrastructure, and pro-business policies played a crucial role in the decision-making process that eventually led them to the new Romanian site, and away from possible locations in Poland, Spain, Portugal, and the Czech Republic.

Beyond geographical diversification, Nokian is also focusing on sustainability, with the Oradea facility earning the designation of a 100% emissions-free plant. This shift aligns with the company's broader goal of reducing dependence on fossil fuels — a mindset surely spurred by the disruptions in the oil industry caused by the Ukraine/Russia war. Despite facing financial setbacks due to its Russian exit, including billions in lost revenue, the company remains a significant player in the global tire market. This bodes well for the studded tire company's shareholders.

As a publicly traded company, Nokian Tyres' ownership is broken down by who owns the most shares. The tire brand displays this information on its website, where visitors can see ownership divided up across six key sectors: Private companies, financial and insurance institutions, public sector organizations, private households, non-profit institutions, and foreign investors.

Across these six, its ten biggest shareholders are Solidium Oy, Varma Mutual Pension Insurance Company, Ilmarinen Mutual Pension Insurance Company, Elo Mutual Pension Insurance Company, Nordea Nordic Small Cap Fund, Eam Nre1v Holding Oy, Nordea Finland Fund, The State Pension Fund, OP-Henkivakuutus Ltd., and Barry Staines Linoleum Ltd.

Looking ahead, Nokian's emphasis on regional manufacturing will no doubt shape its future successful operations. Ideally, this new approach to manufacturing will allow the company to have much greater flexibility the next time they need to respond to whatever market demands or geopolitical uncertainties might arise. And, with any luck, avoid another Russia-Ukraine situation entirely.