10 Apr 2024 16:40

Cordiant tire plants intend to reach 100% production capacity by 2026

KALUGA. April 10 (Interfax) - JSC Cordiant, controlled by the S8 Capital group and uniting tire plants in Yaroslavl, Omsk, and the Kaluga Region, respectively, which are former assets of Continental, and in Ulyanovsk, previously owned by Japan's Bridgestone, intends to reach full production capacity by 2026, Cordiant CEO Vladimir Volodin told reporters.

"We plan that we will be able to utilize our production capacity at 100% within the next two years," Volodin said.

Volodin said that the Ulyanovsk plant was idle in 2023, the Kaluga plant operated below 50% capacity, and the company's assets in Omsk and Yaroslavl, respectively, operated at 100% capacity.

Volodin also said that capacity at the Kaluga plant, currently operating under the Gislaved brand, is planned to reach 80% in 2024.

The overall production capacity of Cordiant's assets is currently 15 million tires per year, of which the Yaroslavl plant manufactures 3.6 million tires, the Omsk plant produces 5.5 million tires, the Kaluga plant manufactures 3.5 million tires, and the Ulyanovsk plant produces 2.4 million tires.

Volodin said in a presentation that Cordiant held 13% of the Russian market for passenger and light truck tires in 2023.