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Nokian Renkaat eyes investment at Finland plant

HELSINKI, May 10 (Reuters) - Finnish tyre maker Nokian Renkaat could invest up to 25 million euros ($33.54 million) at its Finnish plant in coming years as it seeks to boost production efficiency, the company said on Monday. "The majority of the investment will happen in the next few years, but this year looks to remain quiet," Nokian Renkaat Chief Financial Officer Anne Leskela told Reuters. Leskela said the firm had not yet to decided on the investment or when it would begin, but was currently testing new production equipment. If implemented, the investment would increase annual capacity at the Nokia plant to around 5 million tyres from around 3.5 million currently, Leskela said. "It's quite a significant increase, which will more than double production efficiency," she said. The firm estimates its total investments will be at 58 million euros this year, with 15 million booked for increasing capacity at its Russian plant, and 20 million for developing new products. Chief Executive Kim Gran told regional daily Aamulehti in the weekend Nokian Renkaat was eyeing an investment of 20 million to 25 million euros. ($1=.7453 Euro) (Reporting by Eva Lamppu; Editing by Hans Peters) Keywords: NOKIANRENKAAT/ (eva.lamppu@reuters.com; +358 9 6805 0248; Reuters Messaging: eva.lamppu.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.

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