Finnish Company Transformed by Russia-Ukraine Conflict
Finnish tire company Nokian Tyres, which previously manufactured 80% of its tires in Russia, has shifted its business strategy due to the Russia-Ukraine war and geopolitical risks. The company decided to exit Russia and prioritize political security over business efficiency. Nokian Tyres is now diversifying its production, with 80% of it being local or regional, and has built a new factory in Oradea, Romania. The company's altered approach reflects the changing global economic landscape, where political threats are now a significant factor in decision-making for offices, supply chains, investments, and sales.