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Old 08-02-07, 01:43 AM   #1
Juha
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Nokian tyres in trouble

Finnish newspapers report this morning that the parent company of Suomityres has filed for a company restructuring program. Suomityres is the manufacturer of various car and bike tyres, among them the Nokian Hakkapeliitta studded winter tyres. I could not find an English source for the news yet.

During the program they get a moratorium (8-10 months) on paying their debts. An independent ombudsman of sorts will be appointed to draft a plan on how to restructure the business to make it profitable again, and how to pay the outstanding debts once the moratorium expires. As far as I can tell the whole process is pretty much the equivalent of Chapter 11 in the US.

Apparently the Hakkapeliittas were not expensive enough after all. Hope they pull through. The company's spokesman is very optimistic, but I guess that's what he gets paid for.

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Old 08-02-07, 05:59 AM   #2
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Thanks for the news. Time to stock up.....
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Old 08-02-07, 06:15 AM   #3
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I hope they pull through. The Hakka 2's I run in winter wear like iron, and dig really well. We're trying out one of their "all season" snowtires on the wifes car also.
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Old 08-02-07, 11:49 AM   #4
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Nooooooooooo!

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Old 08-02-07, 06:13 PM   #5
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Hope they pull through. What will I rally on otherwise?
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Old 08-02-07, 06:53 PM   #6
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Hopefully they pull through and keep the bike tire division. I have to say that my NBX's are my favorite knobbies
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Old 08-02-07, 07:14 PM   #7
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I think the root of the problem is their studded tires last forever.
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Old 08-02-07, 07:20 PM   #8
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OMG! that is the Vermont state tire!
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