Amtel-Vredestein buys further 63 tyre retail stores in Russia

Moscow - Amtel-Vredestein has announced that its OJSC AV-TO tyre retail subsidiary has acquired 63 additional multi-brand tyre sales and service centres in Russia. The locations include the Horoshie Kolesa ( Good Wheels”) and Nordshina chains in St. Petersburg.

Along with previously announced acquisitions in Moscow, St. Petersburg and in the Perm region of Russia, the number of AV-TO outlets has now risen to 104. This number exceeds Amtel-Vredestein's commitment to expand its network to 100 locations by the first quarter of 2006.

By 2007, said Amtel-Vredestein, it plans to grow its AV-TO network to over 200 multi-brand outlets across Russia and CIS. These outlets will be split between two new brands the company plans to roll out later this year: AV-TO, a premium retailer, and KOLESO, a discount chain.

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Press release from Amtel-Vredestein