10 Apr 2024 13:47

Cordiant intends to launch tire plant in Ulyanovsk purchased from Bridgestone by 2025

KALUGA. April 10 (Interfax) - JSC Cordiant, controlled by the S8 Capital group, intends to launch the tire plant previously owned by Japan's Bridgestone by the end of the year, Cordiant CEO Vadim Volodin told reporters.

"The plant in Ulyanovsk is planned [for launch] by the end of the year. We are currently testing all systems and the production efficiency, and are importing new raw materials, making new molds, and deciding on the product that we will manufacture at the site. Well, the first tires should be rolled out from the site by the end of the year," Volodin said.

The plant will not immediately reach full capacity. "I think we will be able to produce about 1.2 million tires in 2025," he said.

The Cordiant tire plant in Ulyanovsk has design output capacity of 2.4 million tires per year.

As reported, Bridgestone halted the production of tires in Ulyanovsk in March 2022. The Japanese concern sold its Russian tire assets to the S8 Capital holding company in December 2023.