Amtel sees 18 percent growth, expects to complete Vredestein buy soon

By Liz White, ERJ staff
Moscow-Sales at major Russian tyre maker Amtel Holdings Holland grew 18 percent in 2004 to $451 million (Euros 346 million), according to preliminary results announced by AHH managing director Alexei Gurin during a 1 Feb press briefing at Russia’s annual tyre exhibition, Tires & Rubber 2005.

“2004 was another exceptional year for Amtel,” commented Amtel president Sudhir Gupta, in a press statement: “We significantly increased production capacity, sales, profits and market capitalisation. … Moreover, we virtually completed our three-year, $200 million…

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