Moscow, Russia. -- Amtel-Vredestein has sold the land and buildings associated with its wholly-owned subsidiary CJSC "Moscow Tyre Plant-M" to a property development company for a total of $77 million (Euro 49 million). A-V said it is still considering what to do with the equipment within the factory.
A-V said its options for the equipment include, â€œa possible sale of the equipment and relocating it to other Amtel-Vredestein N.V. plants for internal use.â€
A-V said the proceeds from the sale will be used to reduce its internal debts.
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Source1 (Origin) story
Press release from Amtel-Vredestein