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Reff & Associates Advises Nokian Tyres on EUR 99.5 Million State Aid for New Oradea Factory

Romania
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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.

 

Romanian Knowledge Partner

Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

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