Bridgestone sells Russian assets to S8 Capital

Brussels – Bridgestone Europe NV/SA has announced the sale of its Russian assets to S8 Capital, a Russian diversified holding company.

The deal has received “all necessary regulatory approvals”, said Bridgestone in a statement 20 Dec.

The agreement includes Bridgestone’s tire manufacturing plant in Ulyanovsk and a sales and marketing office in Moscow.

Bridgestone, which has been present in Russia since 1998, suspended all manufacturing activities in Russia in March 2022, following the Russian invasion of Ukraine.

Located in the Zavolzhye industrial park and spanning 80.6 hectares, the Ulyanovsk facility was officially launched in December 2016.

Described as "one of the most advanced among all Bridgestone enterprises in the world," the plant has the capacity to produce just under 5,000 units per per day.

Product portfolio includes tires with standard sizes ranging from 13 to 19 inches - for cars, crossovers and SUVs, as well as tires homologated for supply to automakers as original equipment.

Bridgestone said the Russian operation contributed less than 2% of the group's total annual revenue.

As part of the deal, about 1000 employees will transfer to the buyer, who also acquired Continental’s tire and rubber assets in Russian following the German group’s exit last year. (ERJ report)