Japan's Bridgestone to build passenger car tyre plant in Russia

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.

Total investment by both companies in the project will be around yen (Y) 37.5bn ($386m, Rb12.5bn, €312m), and production is scheduled to begin in the first half of 2016, Bridgestone said.

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)

By: Franco Capaldo
+44 (0)20 8652 3214

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