Nokian Heavy Tyres acquires Finnish heavy equipment wheel company Levypyörä Oy
In line with Nokian Heavy Tyres growth strategy, the company is acquiring a Finnish heavy equipment wheel company Levypyörä Oy.
With its two business lines, wheels and steel structures, Levypyörä serves several original equipment manufacturers and aftermarket customers in forestry, agriculture and earthmoving applications. The annual net sales of Levypyörä Oy is approximately €18 million.
“With the acquisition, Nokian Heavy Tyres can offer innovative new solutions to its existing customers and increase wheel volume as well as further improve its service level. Levypyörä has already been a trusted partner of ours for many years. The acquisition provides additional growth opportunities and offers a full-service solution for our key original equipment and aftermarket customers,” says Manu Salmi, Managing Director, Nokian Heavy Tyres.
“Being a part of a leading specialty tire manufacturer gives us a great opportunity to further grow and develop Levypyörä products and services globally and strengthen our current customer and supplier relationships,” says Lars Ojansuu, Managing Director, Levypyörä Oy.
Levypyörä Oy was founded 64 years ago and it employs approximately 100 people in Nastola, Finland. The company is a premier provider of wheels for heavy original equipment and aftermarket applications. It is committed to developing eco-friendly processes such as reducing CO² emissions and not using solvents in painting. Levypyörä Oy was a part of Weckman Steel corporation.
Nokian Tyres is the world’s northernmost tyre manufacturer and one of the most sustainable companies in the industry. Nokian develops high-quality, safe and eco-friendly tires for passenger cars, trucks and heavy machinery and are especially well known for their innovative winter tires. The group also includes the Vianor chain, specializing in vehicle maintenance and tire services. In 2018, the company’s turnover was approximately €1.6 billion and it employed some 4,800 people.