A Large Group With Two Consecutive Tire Factories
According to reports, Russia's S8 Capital Group is acquiring Bridgestone's local tire factory.
The two sides started negotiations in February this year, and the transaction is expected to be completed before the end of the year.
If the transaction is completed, S8 Capital is expected to become the second largest tire manufacturer in Russia, with an annual production capacity of 15.4 million tires.
According to data, the annual production capacity of Bridgestone's Russian tire factory is 2.4 million passenger tires.
The factory was put into operation in 2016 and can export winter tires to Finland, Sweden, and Norway.
In October 2022, affected by the Russia-Ukraine conflict, Bridgestone announced plans to sell its assets in Russia.
At that time, the annual revenue of this factory was 12.3 billion rubles, with a net loss of 11.7 billion rubles.
After the outbreak of the Russia-Ukraine conflict, S8 Capital Group started the "sweep mode".
The company has successively acquired Otis Elevator and Bosch Spark Plug Russian factories.
A few weeks ago, Continental's Russian tire factory was also sold to this company.
