In 1987 the Tikkakoski factory was run down, all its machinery was destroyed, and production of Tikka rifles was transferred to SAKO factory at Riihimäki. The last Tikka M55 were assembled in 1989. In 1990 the Tikka M55 was superseded by the Tikka M558 rifle of the Tikka M88 series. The Tikka M55 action is loosely based on the Mauser action, which Tikkakoski wanted to modernise. The repeating magazine fed rifle features a milled receiver made from special steel, to which a 90° rotating, two-lug cylindrical bolt locks. The receiver has 17 mm dovetail rails milled on its top side for attaching optical sights. The short action is unable to house larger cartridges than .308 Winchester or eject cases longer than 55 mm. The bolt handle serves as a safety lug for the rifle, in case the two locking lugs fail. The later model bolts have a large handle with a plastic ball-shaped end. The barrel is cut rifled with 6 grooves and depending on the model, either 520 mm (20.47 in), 580 mm (22.83 in) or 620 mm (24.41 in) long. Some models feature iron sights attached to the barrel; rear sight is an open notch and front sight is a hooded post. The barrel is free-floating, also in the Fullstock variant. The trigger mechanism has an adjustable trigger pull between 1 kg and 3 kg. The trigger pull can be adjusted by rotating a screw inside the magazine well. The trigger has tendency to produce unintentional discharges if the trigger pull is set too light. The magazine is either a 3, 5 or 10-round single stack single feed stamped steel magazine, and the magazine catch is located in front of the trigger, within the trigger guard. The magazine has 73–74 mm maximum overall length for the cartridge, which allows for the use of long range loads in .308 Winchester. The sporter variants feature heavy walnut stocks which are convex towards the cheek and concave on the away side, and have UIT rails on their underside and left side, for attaching different accessories, and some Sporter rifles have also an adjustable cheek rest and butt plate. No synthetic materials have been used in the rifle.