16 April 2013 13:10 [Source: ICIS news]
LONDON (ICIS)--Japan-headquartered Bridgestone Corporation on Tuesday said it plans to build a passenger car radial tyre plant in the Zavolzhye Industrial Zone in Ulyanovsk Oblast, Russia.
The plant will be operated by Bridgestone Tire Manufacturing CIS LLC (BMCIS), a tyre manufacturing company jointly established by Bridgestone Corporation and Japan-based Mitsubishi Corporation, which is also a co-investor in the plant.
Bridgestone will have 90% equity ownership, and Mitsubishi will have 10%.
The facility will be Bridgestone's first tyre plant in the Russia/Commonwealth of Independent States (CIS) region.
Bridgestone said the plant’s production, which is estimated to reach approximately 12,000 units a day by the second half of 2018, will focus on winter tyres to meet growing demand in the region.
($1 = Y97.19, $1 = €0.77, $1 = Rb31.46, €1 = Rb40.02)
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