“The Bridgestone company name and brand will not be transferred”
On Wednesday it became known that Bridgestone is selling its Russian assets to the S8 Capital holding. The transaction has received all necessary regulatory approvals. About 1 thousand Bridgestone employees will go to work for the Russian company.
The press service of S8 Capital told «Rossiyskaya Gazeta» that testing, commissioning and restart of production will begin in the near future at the former Bridgestone plant in Ulyanovsk.
«Under the terms of the deal, the company name and Bridgestone brand are not transferred. The company and product names will change. The rebranding will be carried out in the near future, we will inform you about this additionally— said in S8 Capital.
Today it became known that the Japanese tire manufacturer Bridgestone will sell its Russian assets to the diversified holding company S8 Capital. The transaction has received all necessary regulatory approvals. About 1 thousand Bridgestone employees will go to work for the Russian company. The transaction amount is not disclosed, but, according to various sources, it ranges from 7 to 10 billion rubles.
Bridgestone announced plans to sell its assets back in October last year. The plant produced 2.4 million tires per year, which were supplied, among other countries, to Finland, Sweden and Norway.
S8 Capital acquired the Continental plant in Kaluga back in May; it also owns the Cordiant plants in Yaroslavl and Omsk. In total they produce 13 million tires per year.