Nokian Heavy Tyres 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 (OEMs) and aftermarket customers (AM) in forestry, agriculture and earthmoving applications.
Nokian said that its acquisition of Levypyörä, which has annual net sales of approximately €18M, was part of its growth strategy.
“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,” said Manu Salmi, managing director of Nokian Heavy Tyres.
“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 OEM and AM customers.”
Lars Ojansuu, Levypyörä’s managing director, commented: “Being a part of a leading specialty tyre manufacturer gives us a great opportunity to further grow and develop Levypyörä products and services globally, and strengthen our current customer and supplier relationships.”
Levypyörä was founded 64 years ago and employs approximately 100 people in Nastola, Finland. The company said it is committed to developing eco-friendly processes such as reducing CO2 emissions and not using solvents in painting. Levypyörä was a part of Weckman Steel Corporation.