Vredestein unit for sale as Amtel’s Russian operations run out of money

ERJ staff report (DS)

Enschede, Netherlands — The parent of the Russian tyre maker, OJSC Amtel-Vredestein said the Russian unit has run out of money and cannot repay its creditors. The holding company, Amtel Vredestein N.V. based in the Netherands has said it will not provide any more funds to the Russian unit. Although the company did not discuss the future of the Russian operations, it seems unlikely that they can continue when the company is unable to pay for supplies of raw materials or energy.


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