Deloitte Legal-affiliated firm Reff & Associates has advised Nokian Tyres on obtaining EUR 99.5 million of state aid in the form of a direct grant that will support the establishment of a zero CO2 emission tire factory in Oradea, Bihor county.
The European Commission has approved the state aid, after being notified by the Romanian state about its intention.
Nokian Tyres is a Finnish developer and manufacturer of premium tires. The tires produced in the Oradea factory will be primarily sold in the Central European markets.
According to Reff & Associates, "the construction of the factory started in May 2023 and requires a total investment of EUR 650 million. It will produce approximately six million tires per year once completed and will create 500 direct jobs, as well as further indirect jobs."
The Reff & Associates team included Co-Managing Partner Alexandru Reff, Partner Florentina Munteanu, and Senior Managing Associate Andrea Grigoras.
