Sibur-Russian Tyres saw production increase 21 percent - corrected

ERJ staff report (DS)

Moscow -- Holding company "Sibur - Russian Tyres" in January-June 2011 increased production by 20.9 percent, to 5.24 million tyres compared to the same period in 2010. A translation error crept into our report on Monday. This version has been corrected. We apologise to Sibur-Russian Tires for any confusion caused by the error.

The increase includes 3.57 million passenger and light truck tyres, 1.13 million tyres for commercial vehicles and 534 thousand other tyres (aircraft tyres, solid tyres, etc.). Production of passenger and light truck tyre production grew by 12.2 percent. Production of tyres for commercial vehicles grew by 41.8 percent; production of tyres for other applications including buses grew by 53.4 percent.

With the support of "Sibur - Russian Tyres' production has shown an impressive growth of the Kirov and Voronezh tyre plants. Compared with the first half of 2010, their output in January-June 2011 increased more than twofold, to 4.45 million tyres.

In the first half of 2011 Holding "Sibur - Russian Tyres" financed investment of 1.2 billion rubles., Mainly to complete the project on creation of the production of modern all-steel truck tyres for a capacity of 650 thousand tyres per year.

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Press release from Sibur-Riussian Tyres (Russian language)

Above Press release from source