Sibur Russian Tyres announces level sales

ERJ staff report (DS)

Moscow -- Sibur-Russian Tyres said sales for 2008 were 27.4 billion rubles (euro 631 million), roughly the same as in 2007.

Results

were impacted both by the increase of raw material costs from March

with peak in August 2008 and decrease of tyre sales volume in the

fourth quarter as a result of the global economic crisis.

Overall

SRT sales reached 10.2 mln tyres including 6.3 mln of passenger and

light-truck tyres, 3.6 mln commercial and 0.3mln other tyres (moto,

avia, etc.)

General Director of SIBUR-Russian Tyres, Vadim

Gurinov commented on the results of the year, “Of course our financial

results reflect the current economic reality. We do our best to

overcome the recession without losses. We keep key staff at our plants,

production facilities continue to operate, some important investment

projects have been finished. Positive changes in sales are evident,

particularly in B2B and B2C segments - tyre market demand is influenced

by existing vehicle fleet therefore it is more tolerant to current

economic situation. Indeed we expected better results. However I

estimate the results of preceding year to be positive for our Company.»

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Press release from SRT