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IN SHORT OF BUSINESS

Tyre firm on a roll

TYRE maker Matador, Púchov and Finnish company Nokian Tyres will raise their production levels from the current 300,000, to 500,000 tyres next year, according to a new contract of cooperation.

The contract with the Finnish firm enables annual output to be boosted by 1 million tyres over the next few years, according to the SITA news wire.

"The two companies signed the contract for the 2005 to 2009 period. This replaces the January 2003 contract, when the two firms started to cooperate on tyre production for passenger cars," Matador spokesman Pavol Hanzel said.

Nokian Tyres will invest around €3 million on equipment

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