OREANDA-NEWS  The Japanese concern Bridgestone is selling its Russian assets to the Russian diversified holding company S8 Capital, according to a press release from the concern.

The deal for the sale of the Ulyanovsk plant and the sales office in Moscow has received all the necessary regulatory approvals.

Bridgestone has been present in Russia since 1998, and about 1,000 people have been employed in its divisions in Russia.

In May 2023, S8 Capital Group acquired the Russian tire assets of German Continental (a tire manufacturing plant in the Kaluga Region with a capacity of up to 4 million tires per year and a distributor of finished products) and Russian tire manufacturer Cordiant with three enterprises in Omsk and Yaroslavl. Earlier, in April, S8 Capital completed a deal to acquire the Russian assets of the German Bosch concern in Engels (Saratov region).

In March 2022, Bridgestone suspended the production of automobile tires in Ulyanovsk, supplies to Russia and investments. The concern announced the continuation of salary payments in all its divisions in Russia.

Bridgestone started producing tires in Ulyanovsk in May 2017. The capacity of the enterprise is up to 2 million tires per year, the volume of investments in the project amounted to 12.5 billion rubles.

Japanese Bridgestone Corp. – the world's largest tire manufacturer. The company's representative offices are located in 40 countries.