Nokian Tyres plc has signed an agreement to sell its Russian operations to Tatneft PJSC. The debt free and cash free purchase price is expected to be approximately EUR 400 million. The final purchase price is affected, among other things, by net cash and working capital adjustment and changes in RUB/EUR exchange rate.

The transaction is subject to approval by the relevant regulatory authorities in Russia and other conditions, which creates substantial uncertainties related to the timing, terms and conditions and the closing of the transaction.

Nokian Tyres announced in June 2022 that it would initiate a controlled exit from Russia. Upon the closing of the transaction, Nokian Tyres ends all its operations in Russia and the company’s personnel in Russia will transfer to the new owner.

Nokian Tyres has been operating in Russia since 2005. In 2021, approximately 80 percent of the company’s passenger car tires were produced in Russia and the business area Russia and Asia represented approximately 20 percent of Nokian Tyres’ net sales.

The exit from Russia will significantly impact Nokian Tyres’ financial results. Discontinued supply of tires from Russia will have an adverse impact on sales especially in Central Europe in next two to three years. In order to secure supply of its products, Nokian Tyres has continued to increase capacity at its factories in Finland and in the US, and is proceeding with the investment in new supply capability in Europe.

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The Yokohama Rubber Co., Ltd. has been officially recognised as a DX Certified Business Operator by Japan's Ministry of Economy, Trade and Industry (METI). The designation, which was granted on 1 September 2025, identifies companies that are thoroughly prepared for digital transformation as outlined by the Digital Governance Code.

This certification acknowledges Yokohama Rubber's comprehensive strategy for digital transformation, which is built on three core objectives: advancing business strategy, contributing to sustainability and reinforcing its IT infrastructure. Central to this effort is the company's proprietary AI framework, HAICoLab (Humans and AI ColLaborate), which drives group-wide digital initiatives. These include improving productivity, innovating processes, developing digital talent and building a global cloud-based IT system. The certification confirms that the company's efforts not only meet METI's stringent criteria but also demonstrate appropriate disclosure of information to its stakeholders.

Moving forward, the company said it will continue to leverage data from its entire value chain to adapt to a dynamic business environment. The company aims to enhance customer value, pursue sustainable innovation and transform its corporate culture to strengthen its competitive position and ensure long-term growth.

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TyresNmore, the automotive aftermarket e-commerce platform owned by RPG Group, has promoted Rakesh Tatikonda to Chief Executive Officer and announced the change with immediate effect.

Tatikonda, who previously oversaw business operations at the Mumbai-based firm, will spearhead the organisation’s expansion and innovation strategy. The appointment advances RPG Group’s ‘Talent First!’ policy, which rewards internal promotions and develops employees.

The new chief executive brings over 15 years of industry experience, having worked across multiple sectors with companies such as telecommunications giant Reliance Jio and IT services provider Infosys. Before joining TyresNmore in 2022, Tatikonda held senior positions at tyre manufacturer CEAT, where he developed expertise in strategy, operations, marketing and digital transformation.

“My aim is to transform automotive aftercare in India by offering seamless, tech-driven, end-to-end mobility solutions delivered with trust, transparency, and convenience right at the customer’s doorstep,” Tatikonda said in a statement.

TyresNmore operates a doorstep service model for tyre and battery replacement across six major Indian cities: Delhi NCR, Mumbai, Bangalore, Hyderabad, Pune, and Chennai. The platform represents RPG Group’s entry into the growing automotive aftermarket sector, which has seen increased digitisation as consumers seek convenient maintenance solutions.

During his tenure in operations, Tatikonda scaled the business and improved profitability while driving digital transformation initiatives. His track record shows he strengthened operational efficiency and enhanced customer experience in the mobility convenience sector.

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Vaculug, Europe’s largest independent retreader producing high-quality OTR and truck retread tyres for fleets across the UK and Europe, has expanded its UK presence by acquiring Tyrefair in Kinross, Scotland.

This strategic acquisition extends the company's award-winning service further north, ensuring Scottish customers receive the same high-quality OTR and truck retread tyres Vaculug has supplied for 75 years. Since the purchase, the Kinross location has already grown by 25 percent, with an ambitious target to double its business within a year and then double it again.

This move is a key part of Vaculug's 2026 growth strategy, focused on strategic acquisitions that enable better, faster and more sustainable customer service. The acquisition reinforces Vaculug’s long-standing environmental mission, marking a new chapter of sustainable growth with a strengthened Scottish operation.

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Nokian Tyres is expanding its US presence through a new nationwide partnership with American Tire Distributors (ATD). This agreement provides Nokian access to ATD’s vast network of over 110 distribution centres, serving roughly 80,000 customers.

The collaboration will efficiently supply tyre shops with Nokian’s complete product lineup, enabling dealers to broaden their inventory. Both companies bring 90 years of experience and a shared dedication to innovation, safety and sustainability. This partnership will offer drivers more choices, supported by Nokian’s award-winning Tennessee factory and ATD’s technology-driven logistics.

This enhanced distribution capability ensures that consumers will have greater access to a full spectrum of high-performance tyres, meeting diverse driving needs and conditions. The alliance strengthens both brands' market positions by combining premium products with an unparalleled delivery system, ultimately improving service for dealers and drivers alike across the country.

Chris Ostrander, SVP, North America, Nokian Tyres, said, “The partnership with ATD enables us to reach more tyre shops and more drivers than ever before. ATD’s robust distribution network, customer service and responsiveness strengthen our agility to serve both new and existing customers.”

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